India’s Finished Steel Consumption Nears 100 Mt in Seven Months (April-October 2026)

Ministry of Steel

प्रविष्टि तिथि: 05 NOV 2026 7:05PM by PIB Delhi

1. Steel Production & Prices

Note: Prices are inclusive of GST and shown in ₹/tonne, based on average prices of 2^nd fortnight from four metro cities—Kolkata, Delhi, Mumbai, and Chennai.

Source: NSE, S&P Global, Trading Economics

The Ministry of Steel has granted QCO compliance exemption for 162 grades of semi-finished stainless steel products covered under IS 14650, valid until 31 March 2027. The measure aims to address MSME concerns and facilitate the availability of intermediate materials for stainless steel manufacturing.

SAIL reported strong financial performance for H1 FY27, driven by improved profitability, operational resilience and a continued focus on cost optimisation. Sales volume grew by 5% to 5.16 Mt in Q2 FY27 over the corresponding period last year, while Profit After Tax (PAT) surged by approximately 315% to ₹1,774 crore. The company has also approved a ₹1,714-crore expansion and modernisation plan for its Alloy Steels Plant, Durgapur, to expand production of high-grade alloy and special steels for the defence, railway and automotive sectors.

NMDC achieved iron ore production of 5.04 Mt in October 2026, registering an 18% year-on-year increase. Cumulative production during April–October FY27 reached 32.32 Mt, reflecting a 22% year-on-year growth.

MOIL registered improved financial performance in H1 FY27, with manganese ore sales volume rising by 9.67% year-on-year to 0.78 Mt and Profit After Tax (PAT) increasing by 22.5% to ₹149.39 crore, supported by higher sales and improved profitability.

A Ministry of Steel delegation led by the Secretary (Steel) visited Sydney for IMARC 2026 conference, wherein he addressed the Ministerial and Government Global Opportunity Programme on the growth of India’s steel sector and inaugurated the Ministry of Steel Pavilion. He also delivered the keynote address at the Australia-India Business Meet 2026, organised by the Consulate General of India in Sydney. The delegation met the Premier of New South Wales, the NSW Minister for Natural Resources and Austrade to discuss cooperation in mining, steel, critical minerals, raw material security, investment and technology, reaffirming the shared commitment towards stronger partnerships between India and Australia across the mining and steel value chain.

The delegation also met officials from Invest New Zealand and the Ministry of Foreign Affairs and Trade (MFAT) officials in Auckland. The discussions focused on strengthening India-New Zealand cooperation in investment, trade and the steel sector, and on exploring new avenues for collaboration and partnership.

NMDC Limited has opened a Sydney office, inaugurated by Secretary (Steel), to facilitate engagement with Australian government agencies and industry partners and to strengthen India-Australia cooperation in the minerals sector.

Under the Ministry of Steel’s Green Steel Initiative, 108 distinct steel producers have been issued Green Steel Certificates across the lists issued till October 2026. The certification covers products including TMT bars, HR/CR coils, plates, wire rods, pipes and other steel products, with a large majority of certified products receiving 5-star ratings, reflecting the growing adoption of lower-emission steelmaking practices across India’s steel industry.

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