India’s New National Steel Policy: Key Considerations

India’s Steel Sector Shows Robust Growth in April-July 2026

The Indian steel industry demonstrated significant growth during the first four months of the financial year 2026-27. Crude steel production grew by 2.4%, amounting to 56.2 MT from April to July 2026, compared to 54.9 MT during the same period last year. More impressively, finished steel production outpaced crude steel, climbing 4.7% to 54.7 MT, up from 52.2 MT a year earlier. During the period under review, hot metal production climbed 2.7% to total 31.9 MT.

Strong domestic demand characterised this period, with finished steel consumption surging 7.9% year-on-year to reach 56 MT in April-July 2026, compared to 51.9 MT during the same quarter last year. In July 2026 alone, finished steel consumption soared to 14.4 MT, a 6.8% increase from 13.5 MT in July 2025. This steady demand is fuelled by ongoing activities in the construction, infrastructure, manufacturing, and other industrial sectors.

In terms of July performance, crude steel production saw a modest rise from 14.1 MT in July 2025 to 14.4 MT in July 2026, marking a 1.9% increase. Hot metal production exhibited even more significant growth, increasing by 6.3% to 8.4 MT in July. Additionally, finished steel production rose by 3.9% year-on-year to 14 MT during the same month.

Despite the increasing domestic production, India imported slightly more finished steel than it exported during this stretch. Finished steel imports surged by 36.6% year-on-year to 2.77 MT, while exports saw a rise of 35%, reaching 2.29 MT. In terms of monetary value, imports escalated by 43.1% to Rs. 28,330.8 Crores, while exports increased by 29.4%, standing at Rs. 18,105.4 Crores. Consequently, India was classified as a net importer of finished steel in terms of volume for the April-July 2026 period.

RHI Magnesita India Reports 42% Growth in Q1 EBITDA

RHI Magnesita India Limited, a leading manufacturer and supplier of high-grade refractory products, systems and solutions, has reported its unaudited consolidated financial results for the first quarter ended June 30, 2026.

For Q1 FY’27, the company reported revenue from operations of Rs. 1,014 Crores, up 6% YoY, while operating EBITDA rose 42% YoY to Rs. 147 Crores. Operating EBITDA margin improved by 3.7 pp YoY to 14.5%, while Profit After Tax (PAT) increased 83% YoY to Rs. 65 Crores. Shipment volumes stood at 122 KT, with the net cash/EBITDA ratio at 0.27x.

Commenting on the results, Parmod Sagar, Chairman, RHI Magnesita India Ltd., said, “We delivered a strong start to FY’27, achieving healthy growth in both revenue and profitability despite a challenging operating environment characterised by pricing pressures, cost inflation, and competitive intensity. Our differentiated 4PRO business model, deep customer partnerships, and solution-led approach continue to strengthen our market position and drive sustainable value creation.”

Pankaj Malhan, Managing Director & Chief Executive Officer, RHI Magnesita India Ltd., stated that the performance reflects the strength of the company’s business model and execution capabilities in navigating global and domestic challenges. He added that the company will focus on strengthening execution and leveraging its 4PRO model to drive sustainable growth and long-term value creation.

SMS group to Modernise Tuflesa’s ERW Pipe Welding Line

Tubos y Flejes SLU (Tuflesa), part of the Bornay Group, has contracted SMS group to modernise the sizing section of its Electric Resistance Welding (ERW) tube line at Las Torres de Cotillas, near Murcia, Spain. Supplied by SMS group in 1998, the ERW-RD-240 line has been producing welded pipes for nearly 30 years. The upgrade aims to secure the plant’s long-term availability and improve product quality. This will be the second modernisation carried out by SMS group on the line, following the upgrade of its forming and welding area in 2024.

The line produces structural products up to 240 mm in diameter for rounds and 200x200 mm for squares, including tolerance-critical products for the solar industry. Under the project, SMS group will replace the four existing sizing stands and related changeover equipment, which have worn out after nearly 30 years of operation, to restore dimensional accuracy. The new sizing stands are expected to ensure reliable compliance with product tolerance targets and improve line productivity. The main drive, base frames, and automatic stand-change cars will be retained, reducing the upgrade scope, associated labour and costs.

The new sizing stands will be delivered fully pre-assembled, wired, and piped for replacement during Tuflesa’s planned summer 2027 shutdown. SMS will also supervise commissioning and support the start-up phase, ensuring a smooth resumption of production.

Juan Bornay, Managing Director and Owner, Tuflesa, said the company is relying on SMS group’s modernisation expertise to upgrade the existing tube-welding equipment, following the commissioning of a new RD 40 high-frequency tube welding line in 2021.

Susanne Zeller, Head of Tube/Pipe & Section Solutions, SMS group, said, “The modernisation of the sizing section is the next important step in our long-standing partnership with Tuflesa. By replacing the aged sizing equipment while retaining selected existing plant components, we are providing a technically optimised and efficient solution. This will help Tuflesa ensure reliable production, restore product quality, and meet future product requirements.”