India's crude steel output hits record high in Jan'26 even as downstream growth concerns persist

Manufacturing PMI rises but business confidence slips to 3-year low. IIP slows even as construction goods output climbs to 2-year high. Auto sales surge m-o-m on robust rural demand, PV inventory slides

India's crude steel production hit a record 15.15 million tonnes (mnt) in January 2026, the highest monthly volume ever recorded. Expectations of 8-10% steel demand growth in FY'26 have kept the Indian steel industrys prospects bright and pushed steelmakers to steadily ramp up output. However, considering key macroeconomic indicators, while