Tata Steel India’s crude steel output up two percent in July-September

Thursday, 15 October 2020 16:10:22 (GMT+3)   |   Istanbul
       

India-headquartered steelmaker Tata Steel has announced that in the second quarter ended September 30 of the financial year 2020-21 crude steel production at its Indian facilities increased by two percent year on year to 4.59 million mt, while its finished steel sales totaled 5.05 million mt, rising by 22.3 percent compared to the same quarter of the previous financial year. The company stated that global economic activity has started to recover with phased relaxations of lockdown measures. Tata Steel said it continues to monitor the situation and take appropriate action in line with health measures, and to stay focused on managing costs and cash flows.

In the given period, Tata Steel’s crude steel production at its European facilities decreased by 14 percent to 2.15 million mt and its finished steel sales totaled 2.26 million mt, down 1.3 percent, both on year-on-year basis. Tata Steel’s finished steel output at its Southeast Asian facilities in the same quarter went down by 8.7 percent to 520,000 mt, while its finished steel sales declined by 8.3 percent to 550,000 mt, both compared to the same quarter of the previous year.

The company also stated that its major sites operate at around full capacity utilization. In the given period, Tata Steel reduced its exports to 24 percent of overall deliveries and sharply ramped up domestic deliveries to 3.86 million mt, up by 10 percent year on year.  


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