India’s Steel Sector Continues Strong Growth in April 2026
India’s steel industry exhibited robust performance in April 2026, showcasing year-on-year growth in both production and consumption. The sector benefitted from a resilient domestic demand and stable industrial activity, particularly in construction and manufacturing.
Crude steel production reached 14.09 million tonnes, marking a notable 5.8% increase from 13.31 million tonnes in April 2025. Hot metal production also rose by 5.4% year-on-year, although pig iron output dipped slightly to 0.69 million tonnes, a decrease of 6%. Meanwhile, the finished steel production saw a rise to 13.05 million tonnes, up by 3.4%. This uptrend mirrored a significant increase in finished steel consumption, which hit 12.99 million tonnes, translating to an 8.1% growth compared to the previous year. This surge underscores the ongoing expansion in various end-use segments such as construction and infrastructure.
Trade Dynamics
On the trade front, India was a marginal net importer in April, recording imports at 0.68 million tonnes and exports at 0.47 million tonnes. This marked an increase of 30.8% in imports and 24.9% in exports compared to April 2025, which saw 0.52 million tonnes of imports and 0.38 million tonnes of exports.
Capacity Growth and Investments
India’s steel manufacturing capacity has now reached approximately 220 million tonnes per annum (MTPA) in the fiscal year 2025-26, moving closer to the National Steel Policy goal of 300 MTPA by 2030. Major players like SAIL, Tata Steel, and JSW Steel are actively investing in capacity expansion. Noteworthy is Tata Steel’s recent commissioning of a ₹3,200 crore scrap-based electric arc furnace plant in Ludhiana, which boasts a capacity of 0.75 MTPA and is the first of its kind in Punjab.
Initiatives for Green Steel
The Ministry of Steel has been promoting green initiatives, with the National Institute of Steel Technology (NISST) leading efforts in measuring, reporting, and certifying green steel. As of March 31, 2026, NISST had issued green steel certificates to 90 producers across 15 states, ensuring a wide acceptance of eco-friendly products such as TMT Bars, Coils, and Pipes, most of which achieved a 5-star rating.
Steel Prices and Raw Materials
In April, domestic steel prices showed a positive recovery across major categories. TMT/Rebar prices increased by approximately 2.6% month-on-month, with a year-on-year increase of 3%. Flat steel prices experienced even sharper increases, with HR Coils up around 6.3% and GP Sheets up about 7.3%, indicative of rising demand.
Raw material prices displayed a mixed trend but showed signs of stabilization in April. Domestic iron ore prices rose, with NMDC lump and fines prices increasing by about 10-11%. Internationally, coking coal prices continued their upward trajectory, exerting cost pressures on integrated producers heading into the next quarter. In contrast, international scrap prices remained largely unchanged, maintaining stability for electric route steelmakers.
Future Outlook
The outlook for India’s steel industry remains optimistic, backed by ongoing investments in infrastructure and a thriving manufacturing sector. However, the industry will need to focus on energy security, raw material cost fluctuations, and global trade developments to navigate challenges in the upcoming year.
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