Executive Summary
This report details the performance of India’s steel sector from April to July 2026, highlighting a general growth trend in production and consumption despite recent monthly price declines. During this period, India remained a net importer of finished steel, while major producers like SAIL and NMDC achieved significant financial and operational milestones. Key focus areas include new defense-grade steel manufacturing, international mineral partnerships in Argentina, and the inauguration of green steel waste-recycling facilities.
Key Points / Main Content
Production and Consumption
Crude steel production reached 56.3 Mt for April–July 2026, a 2.6% increase compared to the same period last year.
Finished steel consumption grew by 7.8% year-on-year, totaling 55.9 Mt for the April–July 2026 period.
Public sector producers account for 13.9% of annual crude steel capacity and 15.9% of actual crude steel production.
Price and Market Indices
Prices for finished steel products (TMT, HR Coil, CR Coil, GP Sheet) saw Month-on-Month (MoM) declines in July 2026, with TMT falling by 5.6%.
Raw material prices, including iron ore, manganese ore, and scrap, all experienced MoM decreases ranging from 3.1% to 5.1% in July 2026.
The Nifty Metal Index and PMI Manufacturing Index both showed a MoM downward trend in July.
Trade Dynamics
India was a net importer of finished steel for the April–July 2026 period.
Imports for the period totaled 2,766.2 thousand tonnes, while exports lagged at 2,292.3 thousand tonnes.
Corporate and Policy Highlights
SAIL reported a 138% year-on-year increase in net profit for Q1 FY 2026-27, reaching ₹1,636 crore.
SAIL secured a Licensing Agreement from DRDO to manufacture specialized DMR-grade steel for naval ships and submarines.
NMDC achieved its best-ever July production performance (4.06 MT) and is exploring mineral partnerships in Argentina for copper and other strategic minerals.
Sustainability and Green Initiatives
SAIL inaugurated a 0.18 MTPA Micro Pellet Plant at Rourkela to convert steelmaking waste into value-added pellets.
An environmental initiative was launched at Rourkela involving the planting of 500 saplings, with a target of 4,000 by the end of the year.
Impact Analysis
Steel Producers (SAIL, NMDC, and Private Groups)Impact
Producers are seeing record production volumes and strong financial growth but must navigate falling monthly prices for finished products and raw materials.
Action Required
SAIL must begin manufacturing specialized naval-grade steel per the new licensing agreement. NMDC needs to follow up on mineral investment opportunities in Argentina.
Manufacturing and Construction SectorImpact
Increased domestic steel consumption and falling MoM steel prices (e.g., TMT and HR Coil) may lower short-term procurement costs.
Action Required
Stakeholders should monitor price trends and the slight decline in the PMI Manufacturing Index to optimize inventory and project costs.
Government and Regulatory BodiesImpact
The data confirms India’s status as a net importer of steel, which may influence trade policy.
Action Required
The Ministry of Steel must continue to monitor trade imbalances and support the "indigenous capability" initiatives for specialized steel to reduce reliance on imports.
Key Entities Referenced
Ministry of Steel: The primary government ministry responsible for overseeing India's steel sector, production trends, and policy implementation.
SAIL (Steel Authority of India Limited): A major public sector producer highlighted for its financial performance, green steel initiatives, and defense-grade steel manufacturing.
NMDC (National Mineral Development Corporation): India's leading iron ore producer noted for record production and international mineral development initiatives in Argentina.
Licensing Agreement for Transfer of Technology (LAToT): A strategic agreement between SAIL and DRDO/DMRL for the indigenous production of specialized DMR-grade steel for naval defense.
Joint Plant Committee (JPC): The official government-empowered body responsible for collecting and maintaining the steel industry data cited in the report.
Ministry of Steel
April–July 2026: India’s Steel Sector Exhibits
Growth Trend
प्रव तथ: 06 AUG 2026 12:31PM by PIB Delhi
1. Steel Production & Prices
1a. Production Overview (in Mt)
Production Jul 2026 Jul 2025 YoY % Apr-Jul Apr-Jul CPLY %
2026 2025
Crude Steel 14.3 14.1 1.2 56.3 54.9 2.6
Hot Metal 8.1 7.9 1.6 31.6 31.1 1.5
Finished Steel 13.7 13.5 1.4 54.3 52.2 4.0
1b. Producer wise Production (Apr-Jul 2026) (in Mt)
Producer Annual Crude Crude Steel Finished Steel Hot Metal
Steel Capacity Production Production
Production
Top 7 117.4 31.2 29.1 29.3
Remaining producers 104.6 25.1 25.2 2.2
TOTAL 222.0 56.3 54.3 31.6
Public Sector Share (%) 13.9 15.9 13.5 30.5
Top 7 includes SAIL, RINL, NSL, TSL Group, AM/NS, JSL(JSPL), JSW Group
1c. Steel Prices (in ₹/tonne)
Product May-26 Jun-26 Jul-26 MoM % YoY %
TMT (10 mm) ₹ 63,053 ₹ 60,068 ₹ 56,698 -5.6% 3.7%HR Coil (2 mm) ₹ 70,460 ₹ 70,108 ₹ 69,828 -0.4% 13.3%
CR Coil (0.63 mm) ₹ 77,915 ₹ 77,053 ₹ 76,583 -0.6% 14.7%
GP Sheet (0.63 mm) ₹ 89,013 ₹ 86,505 ₹ 86,415 -0.1% 18.9%
Note: Prices are inclusive of GST and shown in ₹/tonne, based on average prices from four metro cities—
Kolkata, Delhi, Mumbai, and Chennai.
2. Demand (in Mt)
Jul 2026 Jul 2025 YoY % Apr-Jul Apr-Jul CPLY %
Indicator 2026 2025
Finished Steel Consumption 14.4 13.5 6.5 55.9 51.9 7.8
3. Trade Dynamics
3a. Finished Steel — Import & Export
Indicator Unit Jul-26 Jul-25 YoY % Apr-Jul Apr-Jul CPLY
2026 2025 %
Imports ‘000 t 702.3 641.2 9.5 2766.2 2024.9 36.6
Rs Crore 8116.3 5776.2 40.5 28330.8 19795.0 43.1
Exports ‘000 t 699.3 485.4 44.1 2292.3 1698.0 35.0
Rs Crore 5630.2 4220.2 33.4 18105.4 13996.2 29.4
Net Trade India was net importer of finished steel in terms of quantity for the period of Apr-
Position Jul 2026
4. Raw Materials
4a. Domestic Raw Material Prices (in ₹/tonne)
Commodity Jun 2026 Jul 2026 MoM Change
NMDC Iron Ore Baila Lump ₹ 5,700 ₹ 5,450 -4.4%
(65.5%, 10-40 mm)
NMDC Iron Ore Baila Fines (64%, ₹ 4,850 ₹ 4,700 -3.1%
-10 mm)MOIL Manganese Ore Lump (Mn ₹ 19,505 ₹ 18,529 -5.0%
37%, Fe 7.5%)
Scrap — HMS II ₹ 40,665 ₹ 38,580 -5.1%
5. Key Indices
Index May 2026 Jun 2026 Jul 2026 MoM YoY
Change Change
Nifty Metal Index (avg.) 13,224.9 12,971.9 12556.4 -3.2% 32.6%
PMI Manufacturing Index 55.0 54.2 53.5 -1.3% -9.5%
Baltic Dry Index (avg.) 3,048.9 2779.9 2769.9 -0.4% 52.2%
Source: NSE, S&P Global, Trading Economics
6. Policy Initiatives/Industry Initiatives
SAIL reported a strong performance in the first quarter of FY 2026-27, with net profit rising over 138%
year-on-year to ₹1,636 crore. The company recorded revenue from operations of ₹26,246 crore during the
quarter, reflecting improved financial performance.
SAIL received a Licensing Agreement for Transfer of Technology (LAToT) from the Defence
Metallurgical Research Laboratory (DMRL), DRDO, to manufacture DMR-249A, DMR-249B and DMR-
249BK grade steel for naval ships and submarines, strengthening India's indigenous capability in
specialised defence-steel manufacturing and supporting the country's defence manufacturing sector.
NMDC posted its best-ever July production performance at 4.06 MT, registering 31% YoY growth, taking
cumulative FY27 production to 19.16 MT and sales to 15.15 MT, reflecting sustained operational
momentum in line with India's growth story.
7. International Co-operation
An NMDC delegation held discussions with senior officials in Argentina to explore investment and
partnership opportunities in copper and other strategic minerals, strengthening NMDC's international
mineral development initiatives.
8. Green Steel Initiatives
SAIL marked a sustainability milestone with the inauguration of its first Micro Pellet Plant at Rourkela
Steel Plant in July 2026 — a 0.18 MTPA facility that converts steelmaking waste into value-added micro
pellets. The plant supports RSP's efforts to reduce landfill waste and improve raw material self-sufficiency
by recycling process residues.
SAIL, through its Rourkela Steel Plant, launched its Mass Environmental Awareness and Tree Plantation
Festival by planting 500 saplings at Ispat Amrit Van in Rourkela. The initiative saw participation from
over 300 students, employees and senior officials. Spread across 1.07 acres, the plantation includes a
diverse mix of native and fruit-bearing species, with plans to plant 4,000 saplings across the year.Source: Provisional JPC data for Jul 2026. Mt = Million Tonnes; MTPA = Million Tonnes Per Annum;
MoM = Month-on-Month; YoY = Year-on-Year; CPLY = Corresponding Period Last Year.
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AG
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