Tata Steel India Operations Reported Notable Surge in Output

SEATTLE (Scrap Monster):  Leading steelmaker Tata Steel announced that the company’s steel output from India operations surged during the third quarter of the current fiscal year. Meantime, the sales registered decline during the three-month period ended 31^st December, 2020.

The company’s total steel output from India operations stood at 4.60 million tonnes during the quarter, higher by 3% when compared with the output of 4.47 million tonnes during the year-ago quarter. The regional sales witnessed a decline by 4%, falling from 4.85 million tonnes to 4.66 million tonnes over the year. Meantime, Tata Steel Europe reported 4% year-on-year growth in output from 2.51 million tonnes to 2.61 million tonnes. Sales were down by 10% from 2.35 million tonnes to 2.11 million tonnes, the company press release said.

RELATED NEWS:

CLSA Foresees Decade-High Margins for Steel and Metal Companies

Tata Steel Announced New Initiative to Reduce Carbon Footprint

The deliveries from automotive and special products segment saw 48% growth over the sequential quarter, primarily on account of elevated overall demand and new product approvals. The deliveries of branded products were up by 5% over the prior quarter. On the other hand, the deliveries from industrial products and projects segment recorded marginal decline.