Current steel rally might make FY22 a turnaround year for Tata Steel Europe

The removal of "Section 232" - 25 per cent tariffs by the US while allowing limited volumes of steel from the European Union - should also augur well for TSE

The year 2007 was special for Tata Steel as it turned 100. But for B Muthuraman, then managing director, what added zing to the celebration was the £6.2-billion acquisition of Corus months earlier.

Before the acquisition, Muthuraman said, he wasn’t too excited about the centenary celebrations. “There was something missing...one has to earn a celebration,” he had said in a speech to a gathering of employees and guests at Jamshedpur to mark the centenary.

The demand for steel was booming then and companies wanted a larger pie of the market. The Anglo-Dutch steelmaker, Corus, fit into Tata Steel’s long-term expansion