India's Steel Demand Set to Grow 8% in FY26 Amid Price Pressures: ICRA

Indian steel demand is projected to grow 8% in FY26, but softer steel prices will keep margins under pressure for producers, according to ICRA. The agency expects domestic hot-rolled coil prices to average around Rs 50,500 per tonne in FY26, with operating profit per tonne of steel production pegged at USD 108. The sector outlook remains stable, but large capacity expansion plans pose risks to industry leverage levels over the medium term.