Tata Steel's Oct-Dec sales volume up by 17% in India
2020-01-21 10:25:02 [Print]
Tata Steel Limited reported a 17 percent rise in Oct-Dec sales volume to 4.84 million tons in the Indian market over the preceding quarter of Jul-Sep, while the production volume remained flattish, a company statement said.
During the quarter under review, the company's sales volume in European operations remained flattish at 2.31 million tons while reporting marginally lower volume at 0.59 million tons in its South East Asian operations, said the company, which has an annual crude steel capacity of 33 million tons per annum.
Production in European operations was marginally up by 2 percent at 2.5 million tons during the quarter on sequential basis while it was down by 14 percent at 0.49 million tons in South East Asia.
South East Asia operations registered lower production volume on sequential quarter basis due to continued sluggishness in Singapore and Thailand markets while in Europe, the overall slowdown coupled with seasonal weakness kept steel spreads under pressure as declining steel prices gave away the benefit of softness in raw material prices, the statement said.
During the quarter under review, the company's sales volume in European operations remained flattish at 2.31 million tons while reporting marginally lower volume at 0.59 million tons in its South East Asian operations, said the company, which has an annual crude steel capacity of 33 million tons per annum.
Production in European operations was marginally up by 2 percent at 2.5 million tons during the quarter on sequential basis while it was down by 14 percent at 0.49 million tons in South East Asia.
South East Asia operations registered lower production volume on sequential quarter basis due to continued sluggishness in Singapore and Thailand markets while in Europe, the overall slowdown coupled with seasonal weakness kept steel spreads under pressure as declining steel prices gave away the benefit of softness in raw material prices, the statement said.
