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Informist, Thursday, Jun. 4, 2026

 

NEW DELHI – India's crude steel production grew 2.91% on year in May to 14.21 million tonnes, the Ministry of Steel said in a press release Thursday. The hot steel production grew 2% on year, and the pig iron output grew to 770,000 tonnes, up 1.1% on year. The finished steel production grew 7.7% on year to 13.94 million tonnes, while the consumption increased 9% on year to 14.33 million tonnes during the month. 

 

Import of steel jumped 62.5% on year to 690,000 tonnes in May while exports stood at 510,000 tonnes, up 29.9%. On a month-on-month basis, domestic steel prices declined across all major product categories in May. The prices of TMT bars or rebar declined by around 1.3% on month. However, TMT or rebar prices increased about 4.5% on year, marking the first positive on-year reading after months of weakness, the press release said. The prices of flat steel also declined, with that of hot rolled coil and galvanised plain sheets both declining by approximately 0.2% on month. 

 

During April and May combined, the country's crude steel production grew 2.7% on year to 28.04 million tonnes, as compared with 27.30 million tonnes in the corresponding period last year. The hot metal output increased 2.7% during the period under review, and pig iron production grew 0.2% on year to 1.50 million tonnes. The finished steel output in April and May grew 6.4% on year to 27.36 million tonnes, and its consumption rose 8.7% on year to 27.36 million tonnes, driven by sustained demand from construction, infrastructure, and manufacturing end-use segments, the press release said. The country's imports in April and May grew 45% on year to 1.37 million tonnes, and the exports were at 980,000 tonnes, up 27.4% on year. 

 

In May, NMDC Ltd. increased the domestic iron ore prices by INR 200 per tonne, while Manganese Ore (India) Ltd. eased the prices of manganese ore by 4%. The latter's manganese ore output grew 4% month-on-month to 170,000 tonnes. International coking coal costs edged up 2.8% further month-on-month to $239 per tonne in May, sustaining elevated input cost pressures for integrated BF-BOF (blast furnace-basic oxygen furnace) producers heading into the September quarter of the financial year 2026-27 (Apr-May), the ministry said. International scrap prices also moved higher during the month, adding to input cost pressures for the electric route steelmakers, it added.  End

 

Reported by Astha Oriel

Edited by Deepshikha Bhardwaj

 

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