Essar Steel announces robust sales volume in Q1

Essar Steel announces robust sales volume in Q1

Indian steelmaker Essar Steel has reported a sales volume increase of 32% within the first quarter that ended March 2003. This record high growth is achieved by increasing sales volume to 473'000 tons in this specific period from 359'000 tons recorded during the previous corresponding period. It is believed that the strong Chinese demand helped to boost the sales during this period. 40% of the total sales are constituted by value added products. Furthermore, Essar Steel, reaching its highest ever production level, also raised its exports during this period, with hot rolled coil production growing by 35% reaching 477'000 tons. Exports were increased by 317% to 246'000 tons from 59'000 tons recorded last year same period, according to the company statement.