Final steel consumption in India in September ٢٠٢٦ reached ١٤.٤ million tons, indicating an ٨% increase compared to last year. This growth has outpaced production increases and has kept India as a net importer of final steel.
Raw and final steel production
Raw steel production during this period increased by ٣.٤% to ١٤.١ million tons. Additionally, final steel production reached ١٣.٤ million tons with a ١.٩% increase. These figures reflect strong domestic demand this month, with final steel consumption outpacing production.
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Final steel imports and exports
Final steel imports in September increased by ٠.٦٥ million tons, which is a ٠.٤% rise compared to last year. In contrast, exports of this product decreased by ٣.٨% to ٠.٥٦ million tons, turning India into a net importer of final steel.
In the first half of fiscal year ٢٧, which includes April to September, final steel imports reached ٤.١٥ million tons, indicating a ٢٣.٨% increase compared to last year. This increase suggests stronger domestic consumption growth compared to production and continues the role of imports in meeting demand.
September statistics indicate a gap between domestic consumption and production growth. While raw steel production increased by ٣.٤% and final steel production by ١.٩%, final steel consumption grew by ٨%. In this month, imports were greater than exports, with a slight increase in imports and a decrease in exports.
The analyses in the report also place India's trends in a mixed global context. Global raw steel production in ٧٠ countries in September decreased by ٠.٢% to ١٤٢.٤ million tons. China's production remained nearly stable at ٧٣.٦ million tons, while India's production in the World Steel Association statistics increased by ١.٩% to ١٣.٩ million tons.
This report concludes without providing further information on exports or trade balance in the first half of the year.
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