Help Desk -
9958816305, 9810335381
Email
Password

Tata Steel Announces Production and Sales Figures for Q3 and 9M

Steel News - Published on Mon, 13 Jan 2020

Image Source: tatasteel.com
Tata Steel India’s2 3QFY20 sales volume increased by 17% QoQ with improved market sentiment. Sales volume to auto segment was maintained during the quarter. Branded Product & Retail segment grew 23% QoQ while Industrial Products and Projects grew 12% QoQ. Tata Steel India’s2 production volume was flattish on QoQ basis. Tata Steel Europe’s 3QFY20 production and sales volume was flattish on QoQ basis. Tata Steel South East Asia operations registered lower production volume on QoQ basis due to continued sluggishness in Singapore and Thailand markets.

Tata Steel said “During 3QFY20, weakness in GDP growth and industrial output continued across major economies affecting steel demand. However, Chinese steel demand was buoyant as despite higher steel production, exports stabilized at around 5 million tons a month. Positive developments on the US China trade talks along with step-up in China policy easing are expected to provide support to global steel demand and thus steel prices. However, escalating geopolitical tensions pose a risk. In Europe, the overall slowdown coupled with seasonal weakness kept steel spreads under pressure as declining steel prices offset the benefit of softness in raw material prices. Indian economy remained weak with declining private consumption growth and low investment growth. Domestic steel prices reached a nadir in October 2019 before improving from November onwards. Steel prices are expected to improve further with strong retail demand and ongoing restocking demand at the dealers’ ends.”

Production volume1
Items3QFY20 P2QFY203QFY199MFY20 P9MFY19
Tata Steel India24.464.504.3813.4612.90
Tata Steel Europe2.502.452.347.607.57
Tata Steel South East Asia0.490.570.521.631.58
 


Sales volume:
Items3QFY20 P2QFY203QFY199MFY20 P9MFY19
Tata Steel India24.844.133.8912.9412.02
Tata Steel Europe2.312.282.356.867.07
Tata Steel South East Asia0.590.600.571.811.81
 


Notes
1. Production Numbers: India - Crude Steel Production; Europe - Liquid Steel Production; South-East Asia - Saleable Steel Production.
2. Figures for Tata Steel India includes Tata Steel Standalone. Tata Steel BSL (from May 18; 2018) and Tata Steel Long Products (from April 09, 2019) without eliminating inter-company transactions.

Source :

Posted By : Rabi Wangkhem on Mon, 13 Jan 2020
Related News from Steel segment