Tata Steel production falls to 2.99 MT in April-June
The Economic Times - Tata Steel India reported sales of 2.92 million tonne of steel in Q1 FY21 against sales of 3.96 mt in Q1FY 20.
Production of steel went down to 2.99 mt in the quarter under review compared to 4.5 mt in Q1FY20, an official statement said.
Tata Steel Europe reported sales of 1.94 mt in Q1FY21 against 2.26 mt in Q1FY20 while production during the quarter was at 2.14 mt compared to 2.65 mt in Q1FY20. Tata Steel said it has sustained production levels of fifty percent and more than that subsequently despite the unprecedented situation arising out of the Covid outbreak.
"In India, capacity utilization of our upstream facilities was adjusted to about 50% level in April while our downstream units were closed. With the phased opening of the economy, utilization levels have been ramped up gradually to around 80% level by end of June," the statement said. Downstream facilities have also been restarted and are being ramped up progressively, it added.