India’s crude steel production rose by 10.7% y-o-y to 13.71 million tonnes (mnt) in November 2025, driven by sustained domestic demand that offset weak global trade conditions and volatile input markets. The strong year-end outturn shows a defining feature of the current steel cycle, a domestically driven, volume-led expansion that has remained resilient despite uneven industrial conditions elsewhere in the economy and limited support from external markets.
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