Data: SHFE, DCE market movement (Jun 22)

India’s finished steel consumption rose 7% to 161 million tonnes in FY26, marking the slowest post-pandemic growth. Infrastructure demand stayed flat at 45 million tonnes as project execution, highway construction and fund disbursement slowed. Manufacturing became the main growth driver, with engineering, capital goods, consumer durables and automobiles lifting combined demand to 60 million tonnes and contributing over 70% of incremental growth. BigMint expects demand to rise to 175 million tonnes in FY27 as infrastructure recovers.

According to the American Iron and Steel Institute (AISI), US domestic raw steel production reached 1.851 million net tons for the week ending June 20, 2026, representing a 3.3% year-on-year increase compared to the 1.792 million net tons produced in the same week of 2025, though experiencing a marginal 0.2% week-on-week decline from 1.854 million net tons. The capability utilization rate stood at 80.2%, up from 79.8% last year but slightly down from 80.3% in the preceding week. Adjusted year-to-date production through June 20, 2026, totaled 44.395 million net tons with an average capability utilization rate of 78.6%, marking a robust 6.1% increase from the 41.828 million net tons and 76.8% utilization recorded during the same period in 2025. Geographically, the Southern district led production with 833,000 net tons, followed by the Great Lakes (496,000 net tons), the Midwest (318,000 net tons), the North East (129,000 net tons), and the Western region (75,000 net tons). The market impact points to a solid stabilization in domestic steel output; the consistent capability utilization above 80% and strong year-to-date growth reflect that North American mills are successfully sustaining production volumes to meet steady regional consumption amid a highly protected trade environment.