Gadchiroli pitched as Maharashtra’s future green steel hub India set to drive next global steel demand wave Italy crude steel output rises 3.1% in May Green steel progress remains slow worldwide
Global steel prices moved higher across major markets in April and early May, with Brazil recording the strongest price momentum ahead of India and China. According to the Goldman Sachs steel market update, Brazil’s hot rolled coil prices rose 10% month-on-month, while Japan gained 6.5% and China increased 2.9%. Brazil also led year-to-date HRC gains with a 21% rise.
India remained one of the fastest-growing steel producers, with crude steel output rising 11% year-on-year in March and 10% year-to-date. Meanwhile, China’s steel output stayed under pressure, falling 3.2% year-on-year in the first two weeks of May amid delayed supply discipline and uneven demand.
For steel traders, mills, and buyers, the report signals firm global price sentiment, strong Indian production growth, and continued uncertainty in China. Goldman Sachs expects steel prices to remain broadly stable through 2026, with the US market likely to stay stronger than Europe, China, and Brazil.
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