[SMM Steel] The IndiaGreen Steel Coalition (IGSC) stated that India must strengthen its domestic scrap collection and processing infrastructure to support the transition toward secondary steelmaking. India currently consumes around 41 mt of scrap, accounting for 23% of crude steel production, while demand could exceed 200 mt by 2047 as scrap use targets rise to 50%. However, a potential 40–50 mt supply gap may increase reliance on imports, making scrap a strategic resource for India’s decarbonization and green steel transition.

Global crude steel production declined by 2.2% year-on-year in February 2026, dropping to 141.8 million metric tons, according to data from the World Steel Association. However, production outside of the largest Asian markets showed strong localized growth, driven by robust domestic demand and infrastructure spending. India surged ahead with a 7.7% year-on-year increase to reach 13.6 million tons, while the United States recorded a 5.8% jump to 6.5 million tons. Germany also demonstrated a noticeable recovery, pushing its national steel output up by 4.8% to 2.8 million tons for the month

India is projected to increase its iron ore imports to a seven-year high of 14 million tonnes in the 2025/2026 financial year to support its rapidly expanding steel production capacity. This trend reflects a strategic shift by Indian steelmakers toward sourcing high-grade international ores to optimize blast furnace efficiency as domestic crude steel production targets continue to rise. Despite being a major producer and exporter of iron ore, India's growing appetite for premium-grade feedstock is expected to make it a more prominent player in the global seaborne iron ore trade.

[SMM Steel] According to World Steel Association (worldsteel) data released on March 25, 2026, global crude steel production in February totaled 141.8 million tons, a 2.2% decrease year-on-year. For the first two months of 2026, total global output reached approximately 298 million tons, down 1.5% compared to the same period last year.

Italy’s crude steel production increased by 8.1% month-on-month in February 2026, signaling a recovery in Southern European industrial activity. This rebound follows a period of stabilization and reflects improved demand from domestic manufacturing and construction sectors as energy price volatility subsides. The increase in output from Italian mills contributes to a moderately positive outlook for non-Chinese steel demand in 2026, which is projected to grow as interest rates decline and borrowing costs for major infrastructure projects soften globally.

JSW Steel reported a 2% year-on-year decline in consolidated crude steel production for February 2026, totaling 2.366 million tonnes. The decrease is primarily attributed to the ongoing temporary shutdown of Blast Furnace 3 at its Vijayanagar facility, which has been offline for capacity modernization since late 2025. Despite the impact of the maintenance work, the company's Indian operations achieved a high capacity utilization rate of 97% when excluding the affected furnace, demonstrating strong underlying operational performance.

According to data from the National Bureau of Statistics (NBS), China's pig iron production from January to February 2026 was 137.7 million mt, down 2.7% YoY; crude steel production was 160.34 million mt, down 3.6% YoY; and steel product production was 221.19 million mt, down 1.1% YoY.

World Steel Association data shows India produced 15.1 million tonnes of crude steel in January 2026, a 10.5% increase year-on-year. This robust growth contrasts with a 6.5% decline in total global production, highlighting India's role as the primary driver of iron ore demand outside of China.

India’s finished steel exports reached 6.02 million tonnes during the April-February 2026 period, marking a significant 36.6% year-on-year increase. This surge is supported by an 11.2% rise in domestic crude steel production, which reached 153.61 million tonnes during the same timeframe. As domestic consumption grew by a more modest 7.2%, Indian steelmakers are increasingly utilizing international markets to balance supply, despite global overcapacity and margin pressures.

JSW Steel’s consolidated crude steel production for February 2026 fell by 2% year-on-year to 2.366 million tonnes. The decline is primarily attributed to the ongoing shutdown of Blast Furnace 3 (BF3) at its Vijayanagar facility for capacity upgradation. However, excluding the affected furnace, the company’s Indian operations achieved a high capacity utilization rate of 97%, indicating strong underlying performance despite the planned maintenance.