India’s steel consumption rises 8% in September; first-half imports climb 23.8%

India’s finished steel consumption rose 8% year-on-year to 14.4 million tonnes in September 2026, outpacing production growth and keeping the country a net importer of finished steel, according to Nomura’s India steel update.

Crude steel production increased 3.4% year-on-year to 14.1 million tonnes, while finished steel output rose 1.9% to 13.4 million tonnes. Consumption grew faster than production, indicating resilient domestic demand during the month.

Finished steel imports increased marginally by 0.4% year-on-year to 0.65 million tonnes in September. Exports, however, declined 3.8% to 0.56 million tonnes, leaving India a net importer of finished steel.

For the first half of FY27, covering April to September, finished steel imports rose 23.8% year-on-year to 4.15 million tonnes. This increase highlights the stronger growth in domestic consumption relative to output and the continuing role of imports in meeting demand.

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