Indian steel colossus Steel Authority of India Ltd (SAIL) has announced that the July-September period has seen its best-ever fiscal Q2 sales results, with sales of 3.17 million mt, up 30.8 percent quarter on quarter. Previous best Q2 sales of 3.08 million mt were achieved in 2009-10.
During the period, SAIL sold 850,000 mt of special and value-added steel products, recording a growth of 10.1 percent compared to the same period of last year. This data constituted 30 percent of total domestic sales achieved in Q2.
Sales growth in Q2 was mainly due to higher intake by the construction and manufacturing sectors. This was reflected in higher year-on-year sales of products such as wire rods (up 60 percent), rounds and bars (up 17.3 percent), structural steel (up 17.7 percent), CR sheets/coils (up 16.8 percent) and galvanized items (up 24 percent).