India-headquartered steelmaker Tata Steel has announced that in the first quarter ended June 30 of the financial year 2018-19 crude steel production at its Indian facilities increased by 7.8 percent year on year to 3.17 million mt, while its finished steel sales totaled 2.97 million mt, rising by eight percent compared to the same quarter of the previous financial year.
Meanwhile, in the given period, Tata Steel’s crude steel production at its European facilities increased by 0.7 percent to 2.81 million mt and finished steel sales totaled 2.43 million mt, up 1.25 percent, both on year-on-year basis. The company stated that steel deliveries of its European facilities in the first quarter were marginally better than the first quarter of the previous year in spite of the action under Section 232 by the US which created some uncertainty.
In addition, in the April-June period, Tata Steel’s finished steel output at its Southeast Asian facilities went up by four percent to 520,000 mt, while its finished steel sales remained stable at 600,000 mt, both compared to the same quarter of the previous year.