
India's steel industry demonstrated strong performance during the first quarter of Financial Year 2027, with crude steel production reaching 42.1 million tonnes, representing a 3% increase compared to 40.8 million tonnes produced in the same period of the previous financial year. According to data released by the Ministry of Steel, finished steel production increased by around 6% to hit 41 million tonnes in the first quarter of the current fiscal year. The growth trajectory indicates sustained momentum in the country's steel manufacturing sector, with finished steel production growing 5.9% to 41 million tonnes for the April-June quarter over the same period last year.
Hot metal production, a critical intermediate product in steel manufacturing, also registered positive growth during the quarter. Production reached 23.5 million tonnes during the quarter, marking a 1.4% year-on-year increase. However, hot metal production was flat at 7.9 million tonnes in June, down 0.3% year-on-year, though it edged up 1.4% for the quarter. This intermediate stage production growth supports the overall steel manufacturing capacity expansion and indicates healthy demand for steel products in the domestic market.
Finished steel consumption surged by 8.3% year-on-year to 41.6 million tonnes during April-June 2026, compared to the same period last year. As reported by the Ministry of Steel, this significant consumption growth demonstrates robust demand for steel products across various sectors of the economy. Finished steel consumption climbed 8.3% to 41.6 million tonnes in the April-June quarter, with finished steel production growing 6% year-on-year to 13.8 million tonnes in June alone, indicating strong market absorption of steel products and supporting the overall industry growth trajectory.
Crude steel production in June stood at 14.1 million tonnes, reflecting a year-on-year increase of 3.9%. According to the Ministry of Steel data, this monthly performance continues the positive trend observed in the first quarter of FY2027. The June figures suggest sustained momentum in steel production and indicate that the industry's growth trajectory is maintaining its upward trajectory into the second quarter of the financial year.
India remained a net importer of finished steel by volume in the April-June quarter, with imports rising 49.2% year-on-year to 2.06 million tonnes, valued at ₹20,214.5 crore, while exports grew 31.4% to 1.59 million tonnes, valued at ₹12,475.2 crore. Steel prices fell across categories in June from May, with TMT bars (10 mm) dropping 4.7% month-on-month to ₹60,068 per tonne, while GP sheet fell 2.8% to ₹86,505 per tonne. Despite monthly price declines, GP sheet remained 15.8% higher year-on-year, showing the steepest annual gain among tracked categories. The country's total steelmaking capacity held at 221.9 MTPA, against the National Steel Policy's target of 300 MTPA by 2030.