Oct. 22, 2020 - Tata Steel's Indian steel production grew 2% year on year to 4.6 million tons in the second quarter of its fiscal 2021 as operations ramped back up to pre-pandemic levels.
The company said Oct. 9 that Tata Steel India's major steelmaking and downstream operations are operating at full capacity although the country's overall apparent steel consumption was down by 7.5% year over year for the three-month period.
Despite lower demand, Tata Steel said its quarterly delivery volumes grew 22% to a record 5.1 million tons after leveraging its marketing network and customer relationships.
The company reduced exports to 24% of overall deliveries and increased domestic deliveries by 10% to 3.9 million tons. Tata Steel India includes Tata Steel Standalone, Tata Steel BSL Ltd. and Tata Steel Long Products Ltd.
Tata Steel Europe Ltd.'s quarterly production slipped to 2.2 million tons from 2.5 million tons the year before, while sales volumes remained stable at 2.3 million tons. The company noted that the macroeconomic and steel demand recovery in the European region is more gradual.
In Southeast Asia, Tata Steel's output dropped to 520,000 tons from 570,000 tons, while sales fell to 550,000 tons from 600,000 tons.