India’s finished steel consumption in May rose 9% year over year to 14.33 million metric tons, outpacing growth in crude steel production, while India and the UK launched a critical minerals supply-chain observatory aimed at strengthening market intelligence for clean energy, advanced manufacturing and strategic sectors, government statements showed June 4.

India’s crude steel output rose 2.9% year over year to 14.21 million mt in May, sustaining growth momentum across the sector, the Ministry of Steel said.

Finished steel production increased 7.7% year over year in May to 13.94 million mt, while hot metal output rose 2% and pig iron production edged up 1.1% to 770,000 mt over the same period.

The demand growth came despite softer domestic steel prices and higher raw material costs, a combination expected to pressure producer margins in the near term, the ministry said.

For April-May, India produced 28.04 million mt of crude steel, up 2.7% from 27.30 million mt in the same period of 2025.

Hot metal output rose 2.7%, while pig iron production was broadly flat, up 0.2% at 1.50 million mt, the ministry said.

Finished steel production during April-May reached 27.36 million mt, up 6.4% year over year, the ministry said.

Finished steel consumption also stood at 27.36 million mt in May, rising 8.7% year over year on sustained demand from construction, infrastructure and manufacturing end-use sectors.