How did India’s steel and raw materials industry perform in H1FY’27?

India’s steel industry entered FY’27 with demand growing faster than domestic crude steel production, but higher raw material costs, intermittent plant disruptions, and tighter coal availability limited the pace of output growth. Crude steel production rose 3% y-o-y to 85.1 million tonnes (mnt) in H1FY’27 (April-September 2026), sharply slower than the 12% growth in H1FY’26, according to BigMint data. Finished steel production increased 4% y-o-y to 81.8 mnt, while consumption rose 7% to 84.9 mnt. The resulting gap between demand and production lifted prices and boosted imports, even as exports also increased sharply. Meanwhile, BigMint’s India Steel Composit