Tata Steel India Crude Steel Output Recorded Notable Surge

Meantime, the Tata Steel India delivery volumes have increased by 42% year-on-year from 2.93 million tonnes to 4.15 million tonnes.

SEATTLE (Scrap Monster): The provisional data for the initial quarter of the current fiscal year by Tata Steel India suggests significant surge in company’s crude steel production and delivery volumes.

The steel production in Q1 FY22 totalled 4.62 million tonnes, as against 2.99 million tonnes in the corresponding quarter a year before. The year-on-year growth stood at 55%. Meantime, the Tata Steel India delivery volumes have increased by 42% year-on-year from 2.93 million tonnes to 4.15 million tonnes.

RELATED NEWS:

Tata Steel Optimistic About Steel Industry Prospects

Tata Steel Eyes Earnings Boost in FY22, Driven by Europe Segment

Over the quarter, the crude steel production witnessed 2.6% decline, due to supply of approximately 48,000 tons of liquid medical oxygen to hospitals during the second wave of Covid-19 that lashed the country. Regional lockdowns and shutdowns in steel consuming sectors affected steel deliveries during the quarter, which were down 11% over the prior quarter, the company press release said.

Meantime, Tata Steel Southeast Asia recorded 49% surge in crude steel production. The steel deliveries by the region soared 50%. Also, Tata Steel Europe saw its crude steel production jump higher from 2.15 million tonnes in Q1 FY21 to 2.73 million tonnes in Q1 FY22. The delivery volumes too were up from 1.98 million tonnes to 2.36 million tonnes over the previous year.

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index