India’s finished steel imports rose 23.8% in volume to 4,141.8 thousand tonnes in April-September 2026, outpacing exports of 3,547.8 thousand tonnes, which made the country a net importer of finished steel by quantity in the first half of FY 2026-27, according to Ministry of Steel data released on 6 October 2026. Consumption grew 7.5% over the same period, while steel prices climbed sharply in September.
The figures come from the Ministry of Steel’s monthly update, published by the Press Information Bureau at 12:03 PM on 6 October 2026. Crude steel output reached 85.1 million tonnes in April-September 2026, up 2.9% from 82.7 million tonnes a year earlier.
How Did Steel Imports and Exports Move in H1 FY 2026-27?
Finished steel imports were valued at ₹43,690.1 crore in April-September 2026, up 40.0% from ₹31,205.4 crore a year earlier. Exports rose 26.2% in volume to 3,547.8 thousand tonnes and 28.9% in value to ₹28,263.7 crore. In September alone, imports were 654.4 thousand tonnes (up 0.4% year on year) worth ₹7,496.2 crore (up 48.9%), while exports fell 3.8% to 561.8 thousand tonnes, worth ₹4,617.1 crore (up 14.8%).
How Much Did Steel Prices Rise?
Average prices across Kolkata, Delhi, Mumbai and Chennai, inclusive of GST, rose month on month in September 2026. TMT (10 mm) reached ₹65,298 per tonne, up 12.6% on the month and 21.0% on the year. HR coil (2 mm) rose to ₹76,085 per tonne (up 8.0% month on month, 26.8% year on year), CR coil (0.63 mm) to ₹84,972 (up 11.1%, 28.8%) and GP sheet (0.63 mm) to ₹94,148 (up 8.6%, 27.7%).
What Do Production and Demand Numbers Show?
September 2026 crude steel production was 14.1 million tonnes, up 3.4% year on year, and finished steel production was 13.5 million tonnes, up 1.9%. Finished steel consumption was 14.4 million tonnes in September, up 8.0%, and 84.9 million tonnes in April-September, up 7.5%. Annual crude steel capacity stands at 222.9 million tonnes, of which the top seven producers account for 117.4 million tonnes. The public sector share of capacity is 13.9%.
Market and Trade Reaction
The Nifty Metal Index averaged 13,053.7 in September 2026, down 1.0% from August but up 32.7% year on year, per the ministry’s data sourced from NSE. Scrap (HMS II) rose 9.6% month on month to ₹43,810 per tonne. The Baltic Dry Index averaged 3,407.7, up 15.5% on the month. No trade-body reaction to the data was found at the time of writing.
What Happens Next?
The ministry also announced a Steel Industry Safety Council chaired by the Secretary, Ministry of Steel, backed by a Steel Industry Safety Directorate for audits and incident investigation. NMDC commissioned its 2 MTPA pellet plant at Nagarnar, Chhattisgarh, completing a ₹5,427-crore integrated project. Buyers and exporters should watch the October data for whether September’s price rise holds.
Frequently Asked Questions
Is India a net importer of steel in 2026-27?
Yes, by quantity. The Ministry of Steel says India was a net importer of finished steel in April-September 2026, with imports of 4,141.8 thousand tonnes against exports of 3,547.8 thousand tonnes.
How much did steel consumption grow in H1 FY 2026-27?
Finished steel consumption rose 7.5% to 84.9 million tonnes in April-September 2026, and 8.0% in September alone to 14.4 million tonnes.
How much did TMT bar prices rise in September 2026?
TMT (10 mm) averaged ₹65,298 per tonne including GST, up 12.6% from August and 21.0% from a year earlier.
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