According to data released by India’s Ministry of Steel based on provisional figures from the Joint Plant Committee (JPC), the country’s crude steel production increased by %1.2 year on year to 14.3 million mt in July 2026. Crude steel production stood at 14.1 million mt in July 2025.
Hot metal production increased by %1.6 during the same period, rising from 7.9 million mt to 8.1 million mt.
Finished steel production increased by %1.4 year on year, rising from 13.5 million mt to 13.7 million mt.
Finished steel consumption reached 14.4 million mt
India’s finished steel consumption increased by %6.5 year on year to 14.4 million mt in July 2026. Finished steel consumption stood at 13.5 million mt in the same month last year.
As a result, the increase in finished steel consumption in July exceeded the %1.4 increase in finished steel production.
Steel exports increased by %44.1
India’s finished steel exports increased by %44.1 year on year in July, rising from 485,400 mt to 699,300 mt.
Finished steel imports also increased by %9.5 during the same period, rising from 641,200 mt to 702,300 mt.
In value terms, finished steel imports increased by %40.5 year on year to INR 81.16 billion, while export value increased by %33.4 to INR 56.30 billion.
Iron ore and scrap prices decreased
Some raw materials used in steel production in India recorded decreases in July compared with June.
NMDC’s Baila lump iron ore price with 65.5% Fe content decreased by %4.4 month on month to INR 5,450/mt. The price of Baila fines with 64% Fe content decreased by %3.1 to INR 4,700/mt.
MOIL’s lump manganese ore price with 37% Mn content decreased by %5 to INR 18,529/mt, while HMS II scrap prices decreased by %5.1 to INR 38,580/mt.
HRC, CRC and TMT prices decreased
Prices of tracked steel products in India’s domestic market also decreased in July compared with June.
The price of 10 mm TMT decreased by %5.6 month on month to INR 56,698/mt, while increasing by %3.7 year on year.
The price of 2 mm hot rolled coil (HRC) decreased by %0.4 month on month to INR 69,828/mt, while increasing by %13.3 compared with the same period last year.
The price of 0.63 mm cold rolled coil (CRC) decreased by %0.6 month on month to INR 76,583/mt, while increasing by %14.7 year on year. The price of galvanized sheet with the same thickness decreased by %0.1 month on month to INR 86,415/mt, while increasing by %18.9 year on year.
Comments
No comment yet.