India’s steel sector records steady growth in May

New Delhi, June 25 (IANS) India’s production of finished steel during May this year went up to 13.8 million tonnes which represents a 6.8 per cent increase over the corresponding figure of 12.9 million tonnes in the same month last year, according to data released by the Ministry of Steel on Thursday.

The country’s consumption of finished steel shot up by a robust 9.3 per cent to 14.4 million tonnes during May compared with 13.1 million tonnes in the same month last year as demand from big ticket infrastructure projects taken up by the Union government in the highways, railways and ports sectors fuelled demand.

India’s production of crude steel was recorded at 14.1 million tonnes in May this year compared with 13.8 million tonnes in the same month of the previous year.

India’s total crude steelmaking capacity reached nearly 221.9 million tonnes per annum as of May 2026, keeping the industry on track to achieve the National Steel Policy target of 300 million tonnes per annum by 2030, the official statement said.

During May 2026, government-owned steel giant Steel Authority of India Limited (SAIL) announced its FY2025-26 financial results, reporting record sales volume of 19.93 million tonnes and revenue of Rs 110,810 crore.

Sales volume increased by 11.4 per cent year-on-year, reflecting strong market demand and improved operational performance.

“SAIL and NMDC are actively exploring coking coal asset acquisitions, nickel supplies in Russia following a May 2026 delegation visit. SAIL has formed an internal committee to assess potential opportunities, while NMDC is evaluating overseas coal assets to strengthen long-term raw material security,” the statement said.

SAIL’s Bhilai Steel Plant received Environmental Product Declaration (EPD) certification for its TMT Bars, reinforcing its commitment to sustainable steelmaking.

“The plant’s 15 MW floating solar project generates nearly 34.25 million units of clean power annually, supporting lower carbon emissions and energy sustainability. The certification enhances the product’s environmental credibility and aligns with growing demand for green steel in domestic and global markets. These initiatives reflect SAIL’s broader strategy to integrate renewable energy and environmentally responsible practices into its steel production operations,” the statement added.

–IANS

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