SAIL breaks production record
According to recent news in the market, Indian steel producer Steel Authority of India Ltd (SAIL) has reported a saleable steel production of 11 million tons in 2003-2004 fiscal with an increase of 6% when compared with the figure recorded in the previous fiscal. The increase in production is recorded despite the production cuts in all integrated steel plants of SAIL due to shortage of high-grade coking coal. Moreover, sales of SAIL in the aforementioned fiscal are recorded as 10.8 million tons up by 7% when compared with the sales of previous fiscal. Exports also increased by 36% over previous year.