Indian steel producer Tata Steel achieved steel production of 4.62 million mt during the first quarter (April-June) of the fiscal year 2021-22, up 55 percent year on year, according to a statement of the company on Monday, July 5.
Tata Steel reported sales of 41.5 million mt during the first quarter of the current fiscal, up 42 percent from the corresponding period of the previous fiscal year, the statement said.
However, its crude steel production in the April-June period was down three percent from the January-March period owing to the diversion of 47,800 mt of liquid oxygen for medical purposes during the second wave of the pandemic this year, the company said.
To offset the impact of lower domestic demand, exports increased to 16 percent of total sales against 11 percent in the January-March quarter. The domestic market has been improving since mid-June with the easing of lockdowns, the company said.
Tata Steel Europe’s steel production in the April-June quarter this year grew by 27 percent year on year to 2.73 million mt, while its sales increased by 19 percent year on year. Tata Steel’s Southeast Asian steel production grew 49 percent and its sales were up 50 percent, year on year, the company reported.