India's steel consumption growth outpaces output in Q1 FY2026-27
2026-07-08 11:57:58 [Print]
India's finished steel production reached an estimated 41.0 million metric tons in the first quarter (April–June) of fiscal year 2026-27, marking a 5.9% year-on-year increase, according to data released by the Ministry of Steel on Tuesday, July 7.
Notably, domestic steel consumption grew by 8.3% to 41.6 million metric tons during the same period, surpassing domestic production.
For June 2026 alone, finished steel output is estimated at 13.8 million metric tons, up 6% year on year, while consumption rose 7.2% to 14.2 million metric tons.
Despite the growth in both production and consumption, India remained a net importer of steel in the first quarter of the current fiscal year. Imports during the quarter totaled an estimated 2.06 million metric tons, surging 49.2% year on year, while exports increased by 31.4% to 1.59 million metric tons over the same period.
Notably, domestic steel consumption grew by 8.3% to 41.6 million metric tons during the same period, surpassing domestic production.
For June 2026 alone, finished steel output is estimated at 13.8 million metric tons, up 6% year on year, while consumption rose 7.2% to 14.2 million metric tons.
Despite the growth in both production and consumption, India remained a net importer of steel in the first quarter of the current fiscal year. Imports during the quarter totaled an estimated 2.06 million metric tons, surging 49.2% year on year, while exports increased by 31.4% to 1.59 million metric tons over the same period.
