Indian state-owned steelmaker Steel Authority of India Limited (SAIL) has announced that in July this year, its total sales, including exports, increased by 15 percent compared to the same month of last year. In the given month, despite the onset of the lean season on account of the monsoons, the company’s domestic sales exceeded one million mt of finished steel, up 8.5 percent year on year. In particular, long products performed the best with 17 percent growth and special steels with four percent growth in sales, both year on year.
In July, SAIL produced 1.16 million mt of finished steel, rising 13 percent year on year. The ramping up of new mills contributed to the enhanced production resulting in higher sales through supply of improved products to the market in the same month.
SAIL’s chairman Prakash Kumar Singh stated that the company is exploring new markets, both domestic and overseas, and that it continues to focus on cost reduction initiatives.