- India remains net importer of finished steel
- Exports decline slightly but rise sharply y-o-y
India’s crude steel production declined 1.8% m-o-m to 14.102 million tonnes (mnt) in August 2026 from 14.354 mnt in July, according to provisional data released by the Joint Plant Committee (JPC). The decline reflected lower production during the month amid seasonally subdued market activity.
India remained a net importer of finished steel in August, with imports increasing to 0.721 mnt, compared with exports of 0.694 mnt.
Steel industry highlights in August
Steel production and consumption decline m-o-m
Finished steel production declined 3.9% m-o-m to 13.482 mnt in August from 14.032 mnt in July. However, production remained broadly unchanged compared with August 2025.
Finished steel consumption decreased 0.5% m-o-m to 14.316 mnt from 14.394 mnt in July. Despite the monthly decline, consumption was up 3.9% y-o-y from 13.785 mnt in August 2025, indicating continued growth in underlying steel demand.
Finished steel exports decline slightly m-o-m
Finished steel exports edged down 0.7% m-o-m to 0.694 mnt in August from 0.699 mnt in July. However, exports increased 31.4% y-o-y from 0.528 mnt in August 2025.
The strong y-o-y growth indicates improved overseas shipments despite a marginal monthly decline. Indian mills continued to explore export opportunities, although monthly shipment volumes remained influenced by order execution and prevailing international market conditions.
Finished steel imports increase, India net importer
Finished steel imports increased 2.7% m-o-m to 0.721 mnt in August from 0.702 mnt in July. Imports were also up 7.9% y-o-y from 0.668 mnt in August 2025.
With imports exceeding exports by around 0.027 mnt during the month, India remained a net importer of finished steel. The continued inflow reflects the execution of previously booked cargoes and demand from specific consuming sectors and processors.
April-August FY’27 performance
During April-August FY’27, India’s crude steel production increased 1.9% to 70.313 mnt, compared with 69.036 mnt in the corresponding period of the previous fiscal.
Finished steel production rose 3.8% to 68.139 mnt from 65.642 mnt, while finished steel consumption increased 7% to 70.286 mnt from 65.671 mnt.
Finished steel exports recorded strong growth of 34.1%, reaching 2.986 mnt compared with 2.226 mnt during April-August FY’26. Meanwhile, imports increased 29.5% to 3.487 mnt from 2.693 mnt.
Overall, imports remained higher than exports during the April-August period, indicating that India continued to remain a net importer of finished steel despite the significant growth in outbound shipments.
Outlook
India’s steel production and consumption are expected to improve as market activity gradually recovers following the monsoon period. Demand from infrastructure, construction and manufacturing sectors will remain key to the pace of domestic consumption growth.
Exports may continue to find support from overseas opportunities and competitive Indian offers, while imports will remain dependent on international price competitiveness and the arrival of previously booked cargoes. Domestic steel prices are likely to be influenced by the strength of post-monsoon demand recovery, import flows and domestic supply conditions.
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