In the third quarter ended December 31 of the financial year 2019-20, Indian steelmaker Tata Steel produced 4.46 million mt of crude steel, up by 1.8 percent year on year, while the company’s finished steel sales increased by 24.4 percent to 4.84 million mt compared to the same period in the previous financial year. Although weaker GDP growth and industrial output had continued to affect steel demand, China’s steel demand was buoyant and positive developments were observed in the US-China trade talks. “However, escalating geopolitical tensions pose a risk,” according to the company statement.
Meanwhile, in the given period, Tata Steel’s crude steel production at its European facilities increased by 6.8 percent to 2.50 million mt, while finished steel sales from its European facilities totaled 2.31 million mt, up 1.7 percent, both on year-on-year basis.
Meanwhile, in the first nine month of the financial year 2019-20, Tata Steel India’s crude steel output totaled 13.46 million mt, up 4.3 percent, while its finished steel sales amounted to 12.94 million mt, up 7.7 percent, both year on year.
In the given period, Tata Steel’s crude steel production at its European facilities totaled 7.60 million mt, up by 0.40 percent, while its finished steel sales came to 6.86 million mt, declining by 2.97 percent, both year on year.