Noida, June 4 (APAC Media): India’s steel sector maintained steady growth in May 2026, with production and consumption of finished steel recording strong year-on-year gains, supported by robust demand from infrastructure, construction and manufacturing sectors, according to official data released on Thursday.
Crude steel production increased 2.9 per cent to 14.21 million tonnes in May from a year earlier, while finished steel output rose 7.7 per cent to 13.94 million tonnes.
Finished steel consumption climbed 9 per cent to 14.33 million tonnes during the month, highlighting sustained domestic demand.
For the April-May period of FY27, crude steel production stood at 28.04 million tonnes, up 2.7 per cent from the corresponding period last year. Finished steel production grew 6.4 per cent to 27.36 million tonnes, while consumption rose 8.7 per cent to the same level.
Trade data showed India remained a net importer of steel during the first two months of the fiscal year. Steel imports surged 45 per cent year-on-year to 1.37 million tonnes in April-May, while exports increased 27.4 per cent to 0.98 million tonnes.
In May alone, imports jumped 62.5 per cent and exports rose 29.9 per cent.
The industry also witnessed continued investment activity. India’s crude steelmaking capacity reached around 220 million tonnes per annum (MTPA) in FY26, keeping the sector on course to meet the National Steel Policy target of 300 MTPA by 2030.
State-run Steel Authority of India Ltd. approved the expansion of its Bhilai Steel Plant’s capacity to 10.2 MTPA from 6.8 MTPA, while JSW Steel began construction of its proposed 13.2 MTPA integrated steel facility at Paradip in Odisha.
Meanwhile, the government’s Green Steel Initiative continued to gain traction, with 94 producers across 15 states receiving green steel certification as of May 31.
The industry faces margin pressures as domestic steel prices softened in May while raw material costs, including iron ore, coking coal and scrap, continued to rise.
–ENDS–
Disclaimer: Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
Also Read:
NALCO, Indian Overseas Bank Sign MoU for Salary Package with ₹1 Crore Insurance Cover
