India’s finished steel consumption increased 3.9 pct YoY to 14.316 mln tons in August 2026, while steel production remained broadly stable on an annual basis, according to provisional data from the Joint Plant Committee (JPC).
Finished steel production declined 3.9 pct month-on-month to 13.482 mln tons from 14.032 mln tons in July, but was broadly unchanged from 13.444 mln tons a year earlier. Crude steel production fell 1.8 pct from July to 14.102 mln tons and was also broadly stable YoY.
The consumption increase was accompanied by higher finished steel imports. Imports rose 2.7 pct month-on-month and 7.9 pct YoY to 721,000 tons, while exports reached 694,000 tons, up 31.4 pct YoY. Imports therefore exceeded exports by around 27,000 tons during the month.
The stronger annual consumption trend is more evident in the April-August period. Finished steel consumption rose 7 pct YoY to 70.286 mln tons, while crude steel production increased 1.9 pct to 70.313 mln tons and finished steel production grew 3.8 pct to 68.139 mln tons. Finished steel exports during the first five months of FY2026-27 increased 34.1 pct YoY to 2.986 mln tons, while imports rose 29.5 pct to 3.487 mln tons, leaving India a net importer over the period.