Steel exports from India rose by 24.9% y/y in April

India’s steel sector showed steady growth in April 2026, driven in part by an uptick in exports. Finished steel exports rose by 24.9% year-on-year to 0.47 million tons, reflecting the gradual recovery of Indian producers’ position in global markets. This was reported by BW.

At the same time, the domestic market remained the key driver of the industry. Steel production rose by 5.8% year-on-year to 14.09 million tons, while finished product output increased by 3.4% to 13.05 million tons. Domestic demand grew even faster: consumption increased by 8.1% year-on-year to 12.99 million tons, indicating sustained activity in construction, infrastructure, and industry.

The market received additional support from a recovery in prices. Following a period of weakness, prices for key product categories rose in April: rebar prices increased by approximately 2.6% month-over-month, hot-rolled coil by more than 6%, and galvanized steel by over 7%. This indicates improving market sentiment and stabilizing demand.

Despite these positive trends, foreign trade poses additional challenges. Steel imports grew even faster than exports—by 30.8% y/y, to 0.68 million tons—highlighting increased competition from cheaper foreign supplies. As a result, India remains a net importer.

In the raw materials segment, the trend was mixed: pig iron production increased by 5.4% year-on-year, while cast iron output fell by 6% year-on-year, signaling weakness in certain processing sectors.

Overall, the industry continues to move toward its strategic goal of expanding capacity to 300 million tons per year by 2030. Capacity already stands at around 220 million tons, and key producers are implementing large-scale investment projects.

As a reminder, India aims to expand its steel production capacity to 400 million tons by the 2035/2036 fiscal year. The country also seeks to more than double its exports to 20 million tons.