New Delhi, June 17 -- As India's steel demand remained robust in May, surging nearly 9 per cent on YoY, industry capacity utilisation is expected to stay above 90 per cent in the medium term, as per a report by Kotak Institutional Equities.

Domestic steel demand grew 9 per cent year-on-year in May 2026 and 8.7 per cent in FY26-to-date, following 7.6 per cent growth in FY26 after four consecutive years of double-digit expansion. It further noted "exports increased 30 per cent YoY, on a weak base, to 0.5 million tons, but were outpaced by imports of 0.7 million tons in May 2026."

According to the report, primary rebar prices have fallen by around Rs 7,000 per tonne, or 11 per cent, from their April 2026 peak. Meanwhile, domestic hot-rolle...