Indian state-run steelmaker Steel Authority of India Limited (SAIL) has announced a 16 percent growth in sales during August, despite the slowdown in the steel market. In the given month, the company sold 1.08 million mt of steel products compared to 938,000 mt in the same month last year.
SAIL stated that the increase in sales volume was mainly due to an increase in flat product sales, which went up by 26 percent, while long products saw a growth of three percent, both year on year. As a result of efforts to restrain the rising dollar, exports saw a significant year-on-year growth of 36 percent, reaching 31,000 mt in August.
During the April-August period, the total steel sales of SAIL stood at 4.78 million mt, up seven percent compared to the same period of the previous year.