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On July 6, Tata Steel said that its India crude steel production had increased by 2% year over year (YoY) to 5.01 million tonnes, with the ramp-up at Neelachal Ispat Nigam Limited (NINL) accounting for the majority of the growth. The company also stated that due to scheduled maintenance shutdowns, production was lower QoQ. Deliveries increased by 18% YoY to 4.8 million tonnes, driven by an increase in domestic deliveries, while exports decreased by 0.25 million tonnes YoY.
According to a statement from Tata Steel, deliveries for both the automotive and special products segments were largely comparable year over year. Production of 2-wheelers and passenger cars increased among the sub-segments, but that of commercial vehicles decreased.
Furthermore, deliveries for the retail segment and branded goods rose by 37% YoY. Tata Steelium and Tiscon, two well-known brands, had their best-ever first quarter sales, according to the statement. Industrial projects and products saw a year-over-year growth of 24 percent, led by a steady rise in the sale of value-added goods to important markets including railroads and pre-engineered buildings.
The scheduled relining of BF6 at Tata Steel Netherlands started in April, according to Tata Steel, and as a result, crude steel production at Tata Steel Europe has decreased. 1.81 million tonnes of crude steel were produced, and 1.97 million tonnes were delivered. In the meantime, Tata Steel shares on July 6 finished 0.22 percent lower at Rs 112.65 per share on BSE.
