During the April-September period of the 2023-24 fiscal year, India's crude steel production increased by 14.7%, reaching 69.65 million tonnes (MT) as reported by SteelMint India. This marked a significant rise from the steel output of 61.06 MT during the same period in the previous year. The surge in production can be attributed to improved capacity utilization rates and the expansion of capacities by key Indian steel manufacturers.

SteelMint predicts that these factors will continue to drive production growth in the latter half of the ongoing fiscal year. Additionally, the consumption of finished steel within the country saw a notable increase of 14.77%, reaching 63.99 MT compared to 55.75 MT in the corresponding six-month period of the previous year.

In terms of trade, the country experienced a 10.25% decrease in steel exports, falling to 3.23 MT from 3.60 MT in April-September 2022-23. On the other hand, imports rose to 2.90 MT from 2.56 MT during the same period in the previous year, marking a year-on-year increase of 13.33%.

The combined production of the top six steel players, including Tata Steel, JSW Steel, Jindal Steel and Power (JSP), AMNS India, SAIL, and RINL, amounted to 41.24 MT, a rise from 38.3 MT in the year-ago period.