India's Steel Consumption Jumps 7.5%, Crosses 99 Million Tonnes in Just Seven Months
What Happened
India's finished steel consumption reached 99.3 million tonnes during April–October 2026, registering a 7.5% year-on-year increase compared with 92.4 million tonnes last year. Key highlights: - October consumption: 14.3 million tonnes, up 6.6%. - Finished steel production: 95.5 million tonnes, up 3.9%. - Crude steel production: 99.1 million tonnes, up 2.6%. - Steel imports: Increased 28.9% to 4.90 million tonnes. - Steel exports: Rose 15.5% to 3.98 million tonnes. India remained a net importer of finished steel during the seven-month period, as consumption growth outpaced domestic production.
Key Takeaways
Rising steel consumption points to healthy demand from infrastructure, construction, automobiles and manufacturing. However, imports are growing faster than exports, while domestic steel prices have increased significantly. The key challenge for Indian steelmakers will be meeting rising demand while managing import competition and input costs.