Tata Steel announces stronger production in Q3

Tata Steel announces stronger production in Q3

Indian Tata Iron and Steel Company Limited (Tata Steel) announced production figures for the third quarter of its fiscal year 2005/06. In the quarter ended December 31, 2006, the company produced 1.25 million metric tons of liquid metal, 1.13 million metric tons of crude steel and 1.14 million metric tons of tradable steel. The figures indicate 13 percent, 7 percent and 9 percent year on year increases respectively. The company suggests that the increases are significant because this quarter saw the maximum number of shutdowns for planned maintenance and upgrading works to reach 5 million metric tons capacity. Tata Steel's sales in the quarter reached 1.12 million metric tons, up 11 percent year on year. Among the major events for the company in the quarter are, the completion of the mid-term repair of the steel plant's third largest blast furnace. The capacity of one of the blast furnace's two billet casters has been upgraded from 600,000 metric tons per year to 1 million metric tons, and can now cast both 130 mm and 150 mm billets at increased speeds. Tata Steel is also performing the trial operations of its new 600,000 metric tons capacity bar mill. This mill will produce only rebars. Tata Steel also opened the first organized steel retail of India in Kolkata on December 12 2005.