India-headquartered steelmaker Tata Steel has announced that in the third quarter ended December 31 of the financial year 2020-21 crude steel production at its Indian facilities increased by three percent year on year to 4.60 million mt, while its finished steel sales totaled 4.66 million mt, falling by four percent compared to the same quarter of the previous financial year. Tata Steel stated that it continues to monitor the pandemic situation and to take appropriate action in line with health measure directions issued by the regulatory authorities, and to stay focused on managing costs and cash flows. In the third quarter, the company’s exports from its Indian facilities shrank below 11 percent of their overall deliveries.
In the given period, Tata Steel’s crude steel production at its European facilities increased by four percent year on year to 2.61 million mt, despite planned maintenance shutdowns, and, while its finished steel sales from its European facilities totaled 2.11 million mt, down 10.2 percent year on year amid the impact of the coronavirus impact at beginning of the quarter, the mix of deliveries saw further improvements in the automotive and engineering sectors.
Meanwhile, in the first nine month of the financial year 2020-21, Tata Steel crude steel output in India totaled 12.18 million mt, down 9.6 percent, while its finished steel sales from Indian facilities amounted to 12.64 million mt, down 2.3 percent, both year on year.
In the given period, Tata Steel’s crude steel production at its European facilities came to 6.91 million mt, down by 9.3 percent, while its finished steel sales from these facilities came to 6.36 million mt, declining by 7.8 percent, both year on year.