New Delhi, June 4 (IANS): India’s steel sector maintained its growth momentum in May, with crude steel output rising 2.9% year-on-year to 14.21 million tonnes, according to government data released Thursday. Hot metal production grew 2.0%, while pig iron output rose 1.1% to 0.77 million tonnes. Finished steel production climbed 7.7% to 13.94 million tonnes, while consumption surged 9% to 14.33 million tonnes, reflecting strong demand from construction, infrastructure, and manufacturing. During April–May, crude steel production stood at 28.04 million tonnes, up 2.7% compared to the same period last year.
Imports and exports also rose sharply, with May imports at 0.69 million tonnes (up 62.5% YoY) and exports at 0.51 million tonnes (up 29.9% YoY), making India a net importer during April–May. The country’s crude steelmaking capacity reached 220 MTPA in FY2025–26, keeping it on track to achieve the National Steel Policy target of 300 MTPA by 2030. Expansion projects are underway, including SAIL’s Bhilai Steel Plant upgrade to 10.2 MTPA and JSW Steel’s new 13.2 MTPA integrated plant at Paradip, Odisha. Under the Green Steel Initiative, 94 producers across 15 states have received certificates, with most products achieving the highest 5-star rating. Raw material prices strengthened further in May, adding pressure to costs even as demand remained resilient.