Finished steel consumption nears 100 mln tons in Apr-Oct 2026

India's finished steel consumption increased 7.5pct YoY to 99.3 mln tons during April-October 2026, according to provisional data released by the Ministry of Steel.

Finished steel production rose 3.9pct YoY to 95.5 mln tons during the seven-month period, while crude steel output increased 2.6pct to 99.1 mln tons.

In October alone, finished steel consumption increased 6.6pct YoY to 14.3 mln tons, while finished steel production rose 2.8pct to 13.4 mln tons. Crude steel production edged up 0.7pct to 14.1 mln tons.

India remained a net importer of finished steel during April-October. Imports increased 28.9pct YoY to 4.90 mln tons, while exports rose 15.5pct to 3.98 mln tons.

Domestic steel prices also increased in October. Average HR coil prices rose 2pct MoM to INR 77,620 (USD 826) per ton, while CR coil prices increased 2.4pct to INR 87,010 (USD 926) per ton. Rebar prices rose 2.1pct to INR 66,645 (USD 709) per ton.

Meanwhile, NMDC's iron ore production increased 22pct YoY to 32.32 mln tons during April-October.

1 USD / 93.9 INR