Tata Steel has registered a 14 per cent decline in sales at 1.07 million tons in the third quarter as compared to the corresponding quarter last year due to the current economic slowdown.
The decline in overall sales was inspite of 27 per cent sales growth in long products (mainly used in the construction industry) sales at 0.48 million tons.
Industry sources pointed out that world over, flat product sales—primarily used by the automobiles and white goods sectors—were facing a severe slowdown and Tata Steel’s fall in sales was a reflection of the trend.
The company registered an increase in hot metal and crude steel production while saleable steel production was at the same level despite a major shutdown.
Hot metal production during the period was at 1.70 million tons and crude steel production at 1.50 million tons was higher by 23 per cent and 17 per cent, respectively. Saleable steel production remained almost at the same level of 1.24 million tons inspite of planned major shutdown of the hot strip mills.
Tata Steel has commissioned the third billet caster at steel melting shop 1 and completed upgradation of roughing mill of hot strip mill as part of 1.8 million ton expansion of the existing units. Tata Steel is also continuing with its growth plan to take the capacity at Jamshedpur Works to 10 million tons by 2010.
