Indian state-owned steelmaker Steel Authority of India Limited (SAIL) has announced that in the financial year 2016-17 its total finished steel sales volume increased by eight percent to 13.14 million mt compared to the financial year 2015-16, constituting its best-ever annual sales volume. In March alone, the company’s total finished steel sales volume reached 1.57 million mt, rising by 21 percent year on year.
In the given year, SAIL recorded a year-on-year increase of 12 percent in finished steel production.
The company stated that its sustained and selective focus on increasing production and adopting newer marketing strategies is starting to yield results. Its increasing footprints in exports have also contributed to the best-ever numbers with exports tripling during the period. At the same time, SAIL is getting ready to offer more value-added products to cater to the growing needs of the domestic steel market with a view towards more customized products.