After achieving almost 100 percent capacity utilization levels at its India operations, Tata Steel is also nearing optimal capacity levels for its global steel mills, Tata Steel managing director T V Narendran said in a statement on Wednesday, October 28.
Mr. Narendran said that Tata Steel’s steel mills in Singapore and Thailand are ‘nearly close to full utilization’. Tata Steel’s mills in the UK and the Netherlands are back at 70-80 percent capacity utilization levels, he said. “Next year will see a strong demand for steel,” he added.
Steel sales in India might be lower by 20 percent at present, but China’s rapid recovery has helped the global steel industry, he said.
However, with China’s own steel production coming back and India’s domestic demand for steel recovering, Tata Steel is no longer exporting to China, Narendran added.