Business News | India's Finished Steel Output Rises 4.7% in Apr-Jul, Consumption Grows 7.9%
Get latest articles and stories on Business at LatestLY. India's finished steel production rose 4.7 per cent year-on-year to 54.7 million tonnes during April-July 2026, while consumption grew at a faster pace of 7.9 per cent to 56 million tonnes, indicating continued expansion in domestic steel demand, according to data released by the Ministry of Steel.
New Delhi [India], August 25 (ANI): India's finished steel production rose 4.7 per cent year-on-year to 54.7 million tonnes during April-July 2026, while consumption grew at a faster pace of 7.9 per cent to 56 million tonnes, indicating continued expansion in domestic steel demand, according to data released by the Ministry of Steel.
Finished steel production stood at 14 million tonnes in July, up 3.9 per cent from 13.5 million tonnes a year earlier. Consumption increased 6.8 per cent year-on-year to 14.4 million tonnes during the month.
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The stronger growth in consumption was accompanied by higher trade activity. Finished steel imports rose 36.6 per cent year-on-year to 2.77 million tonnes during April-July, while exports increased 35 per cent to 2.29 million tonnes. India remained a net importer of finished steel in terms of quantity during the period.
In value terms, finished steel imports rose 43.1 per cent to Rs 28,330.8 crore during April-July, while exports increased 29.4 per cent to Rs 18,105.4 crore.
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China was the largest source of finished steel imports during the period, accounting for 30.9 per cent of the total, followed by South Korea at 30.2 per cent and Japan at 14.9 per cent. Vietnam was the largest export destination, with a 15.4 per cent share, followed by the UAE at 14.8 per cent.
The data also showed strong growth in alloy steel, with production rising 26.7 per cent to 3.71 million tonnes during April-July. Alloy steel consumption increased 22.1 per cent to 4.02 million tonnes, while exports jumped 150.7 per cent to 122,200 tonnes.
Meanwhile, stainless steel production declined 4.2 per cent to 1.38 million tonnes during the period, even as consumption increased 25 per cent to 1.77 million tonnes.
On the policy front, the Ministry of Steel said the recently notified Mines and Minerals (Development and Regulation) Amendment Act, 2026 is expected to strengthen raw material security for the steel sector by improving the investment climate for mining and enhancing domestic availability of key minerals, including iron ore.
The ministry has also launched a monthly webinar series on digitalisation in the steel and mining sector, while 98 steel producers across 15 states have received Green Steel Certificates, with most certified products receiving the highest 5-star rating. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)