Finished steel consumption in India in September 2026 reached 14.4 million tons, indicating an 8% increase compared to last year. This growth has outpaced production increases, maintaining India as a net importer of finished steel.
Raw and Finished Steel Production
Raw steel production during this period rose by 3.4% to 14.1 million tons. Additionally, finished steel production reached 13.4 million tons with a 1.9% increase. These figures indicate strong domestic demand this month, where finished steel consumption has outstripped production.
Finished Steel Imports and Exports
Finished steel imports in September increased by 0.65 million tons, up 0.4% compared to last year. In contrast, exports of this product decreased by 3.8% to 0.56 million tons, turning India into a net importer of finished steel.
In the first half of fiscal year 27, which includes April to September, finished steel imports reached 4.15 million tons, reflecting a 23.8% increase compared to last year. This increase indicates stronger domestic consumption growth compared to production and the continued role of imports in meeting demand.
September statistics show a gap between domestic consumption and production growth. While raw steel production increased by 3.4% and finished steel production by 1.9%, finished steel consumption grew by 8%. This month, imports also exceeded exports, with imports slightly rising and exports declining.
The analyses in the report also place India's trends in a mixed global context. Global crude steel production in 70 countries in September fell by 0.2% to 142.4 million tons. China's production remained nearly stable at 73.6 million tons, while India's production, according to the World Steel Association, increased by 1.9% to 13.9 million tons.
This report concludes without providing further information on exports or trade balance in the first half of the year.
