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CROSS-SPECTRUMBROAD COVERAGE
India's steel demand set to jump nearly 8% in 2026, with further rise expected in 2027
Worldsteel's October 2026 Short Range Outlook identifies India as the quickest‑growing major steel market. Demand is projected to increase 7.9% in 2026 to 172.4 million tonnes. The outlook also expects an 8% rise in 2027. Global steel demand is expected to be essentially unchanged in 2026 before modest growth in 2027, while China’s consumption is forecast to fall 2% in 2026 and narrow to a 1% decline the next year.
Why it matters
The surge in steel demand reflects strong domestic investment in infrastructure, real‑estate, renewable‑energy projects and manufacturing.
How this story developed
- Oct 12 India's steel demand set to surge nearly 8% in 2026, leading global growth
- Oct 13 The IMF projects global GDP to exceed 3% in 2026, buoyed by AI spending, but warns that ongoing Middle East conflict and rising debt could undermine the outlook.
- Oct 13 Silvana Tenreyro said the world’s economic resilience is being tested and urged that the UK “stay the course” and repair its finances.
- Oct 13 IMF raised its 2026 global growth projection to 3.1% and cut growth forecasts for the Gulf, Latin America and Turkey.
- Oct 17 Demand is forecast to rise another 8% in 2027.
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