ACCOUNT PROFILE

Tata Steel Production Remained Muted in Q2 This Fiscal

Posted on 08 October 2021

The crude steel production by Tata Steel India remained muted during the second quarter of the current fiscal year.

The crude steel production by the company recorded marginal increase by 2% over the prior quarter, whereas it was up by 3% compared with the corresponding quarter the previous fiscal. The Indian operations posted an output of 4.73 million tonnes of steel during the September quarter. The sales in the country totalled 4.64 million tonnes. The overall net deliveries surged higher by 12% over the prior quarter, driven by the economic recovery following the second wave of Covid-19 pandemic. Meantime, Tata Steel Southeast Asia’s steel production recorded 17% decline quarter-on-quarter, primarily due to prolonged lockdowns in Malaysia and Thailand.

According to company press release, the steel production by Tata Steel Europe soared around 19% over the previous year to total 2.56 million tons during the quarter. This was mainly attributed to the temporary operational issues at steelmaking plants located in the UK and the Netherlands.

The consolidated steel output during the second quarter of the current fiscal totalled 7.78 million tonnes. This compares with the year-ago consolidated steel production figures of 7.25 million tonnes.

Source : Scrap Monster