ndia`s steel industry extends growth streak with higher output, demand: Government data
Ministry of Steel in its latest release showed that India’s steel sector delivered another month of robust performance in May 2026, recording healthy year-on-year (YoY) growth in both production and consumption metrics.
In the reported month, crude steel production increased to 14.21 million tonnes, registering a 2.9% YoY gain. Hot metal and pig iron production grew by 2.0% and 1.1% YoY, respectively, with pig iron output reaching 0.77 million tonnes. Finished steel production expanded significantly by 7.7% YoY to 13.94 million tonnes, while finished steel consumption outpaced production growth, rising 9.0% YoY to 14.33 million tonnes.
On the trade front, imports stood at 0.69 million tonnes and exports at 0.51 million tonnes in May 2026, registering year-on-year growth of 62.5% and 29.9% over May 2025 levels of 0.42 million tonnes and 0.39 million tonnes respectively.
Meanwhile, domestic steel prices decreased month-on-month (MoM) in May 2026 across all major product categories. TMT/Rebar prices declined around 1.3% MoM, though they still registered an around 4.5% YoY gain - marking the first positive YoY reading after several months of weakness. Flat steel prices also declined, with HR Coil and GP Sheet prices both falling by approximately 0.2% MoM.
