India’s finished steel consumption increased 7.5pct YoY to 84.9 mln tons in April-September FY27, according to provisional data from the Ministry of Steel.
Finished steel production rose 3.7pct YoY to 81.8 mln tons during the period, while crude steel production increased 2.9pct to 85.1 mln tons. Hot metal production rose 2.5pct to 48.3 mln tons.
Finished steel imports increased 23.8pct YoY to 4.14 mln tons, while exports rose 26.2pct to 3.55 mln tons. India remained a net importer of finished steel in terms of volume during the period.
Steel prices also increased in September. Average prices across four major cities rose 12.6pct YoY for 10 mm rebar to INR 65,298 (USD 674) per ton, while 2 mm HRC increased 26.8pct to INR 76,085 (USD 786) per ton. CR coil and galvanized sheet prices rose 28.8pct and 27.7pct, respectively.
In September alone, finished steel consumption increased 8pct YoY to 14.4 mln tons, while crude steel and finished steel production rose 3.4pct and 1.9pct, respectively.
The ministry also announced plans to establish a Steel Industry Safety Council (SISC), chaired by the Steel Secretary, as the apex body for improving safety standards and accident prevention across the sector. A Steel Industry Safety Directorate will support the council through safety audits, investigation of serious incidents and development of safety standards.
1 USD / 96.8 INR
