Tata Steel has reported a 19.4% rise in domestic steel sales in the quarter ended September 30, 2017 (Q2FY18) to 3.13 million tonne(mt) against 2.62 mt in the same period last year with its new steel plant at Kalinganagar contributing to overall volume growth and hi-end product sales for automotive segment posting a growth of around 20% (y-o-y). Half yearly sales jumped nearly 23.2% to 5.88 million tonne in April September 2017 over 4.77 mt in H1FY17.
Tata Steel’s Europe sales touched 2.6 mt in Q2FY18 against 2.26 mt in Q2FY17 leading to a 15 per cent jump in sales.
Half yearly sales figure went up 5.26 per cent to 5 mt in Europe during the quarter under review compared to 4.75 mt in same period last year. The company said deliveries have been higher reflecting stable market conditions and improved finishing processes.
Production in Europe actually went down to 2.6 mt in Q2FY18 from 2.68 mt Q2FY17 while on a half yearly basis it went up marginally to 5.39 mt H1FY18 against 5.3 mt in H1FY17.
Tata Steel said production in India went up 11% to 3.02 mt in Q2FY18 over 2.72 mt in Q2FY17 while half yearly volumes went up 18 per cent to 5.98 mt in H1FY18 over 5.06 mt in H1FY17.
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At Tata Steel Jamshedpur, blast furnaces achieved best-ever Q2 production of 2.8 million tonne in FY18 compared to the previous best of 2.66 million tonne in Q2 FY16.
The Cold Rolling Mill at Jamshedpur achieved its best-ever Q2 production of 0.51 million tonne in FY18 against a previous best of 0.46 million tonne in Q2 FY15. The Merchant Mill also achieved a best-ever Q2 production of 0.118 million tonne in FY18 against its previous best of 0.118 million tonne in Q2 FY16.