- India remains net importer of finished steel in July
- Finished steel exports reach 0.699 mnt, nearly matching imports
India’s crude steel production increased 0.7% m-o-m to 14.252 million tonnes (mnt) in July 2026 from 14.147 mnt in June, according to provisional data released by the Joint Plant Committee (JPC) under the Ministry of Steel. On a y-o-y basis, production rose 1.2% from 14.080 mnt in July 2025, reflecting stable steel output despite seasonally slower demand during the monsoon.
India remained a net importer of finished steel in July, with imports at 0.702 mnt, marginally higher than exports of 0.699 mnt.
Steel industry highlights in July
Steel production stable; consumption growth steady
Finished steel production increased 1.6% m-o-m to 13.694 mnt in July from 13.477 mnt in June. On a y-o-y basis, output rose 1.4% from 13.506 mnt, supported by stable operating rates across integrated and secondary steel mills.
Finished steel consumption rose 1% m-o-m to 14.366 mnt from 14.227 mnt in June. Compared with 13.487 mnt in July 2025, consumption was 6.5% higher, supported by infrastructure and manufacturing demand, although spot market activity largely remained need-based amid the monsoon.
Finished steel exports record strong growth
Finished steel exports increased 13.5% m-o-m to 0.699 mnt in July from 0.616 mnt in June. On a y-o-y basis, exports surged 44.1% from 0.485 mnt, supported by improved shipment execution, competitive Indian offers, and better overseas demand.
Indian mills continued to benefit from opportunities in select export markets amid trade restrictions on Chinese steel. Improved logistics and vessel availability also supported timely execution of export orders during the month.
Finished steel imports higher than exports
Finished steel imports edged up 0.9% m-o-m to 0.702 mnt from 0.696 mnt in June. Compared with 0.641 mnt in July 2025, imports were 9.5% higher, keeping India a net importer of finished steel.
Bulk HRC arrivals remained supported by cargoes booked during earlier months under competitive international prices. Imports continued to cater largely to pipe and tube manufacturers, export-oriented processors, and customers with long-term supply contracts.
April-July FY’27 performance
During April-July FY’27, India’s crude steel production increased 2.6% to 56.327 mnt from 54.919 mnt in the corresponding period of the previous fiscal.
Finished steel production rose 4% to 54.284 mnt from 52.199 mnt, while finished steel consumption increased 7.8% to 55.947 mnt from 51.886 mnt.
Finished steel exports climbed 35% to 2.292 mnt from 1.698 mnt, whereas imports rose 36.6% to 2.766 mnt from 2.025 mnt, indicating continued strong trade activity, with imports remaining above exports during the period.
Outlook
India’s steel production is expected to remain stable in the coming months as mills continue operating at healthy utilisation levels. Demand is likely to remain seasonally moderate during the remainder of the monsoon, with procurement largely driven by immediate consumption requirements rather than inventory building.
Exports are expected to remain supported by competitive Indian offers and improving overseas demand, while imports may stay elevated as previously booked cargoes continue to arrive. Overall, domestic steel prices are expected to be influenced by the pace of post-monsoon demand recovery and the balance between imports and domestic supply.
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