Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Tata Metaliks reported pig iron sales at 86,189 mt in the third quarter of 2019-20, up by 40pc from the same period in the prior year, and up by 12pc compared to the previous quarter. 


The company claims that the increase in its pig iron production is due to improved blast furnace performance, raw-material optimisiation and higher coal injection, along with oxygen enrichment.


Tata Metaliks is a subsidiary of Tata Steel and has manufacturing facilities at Kharagpur, West Bengal in India. The plant produces 5,50,000 mt of hot metal, of which 200,000 mt is converted into DI pipes and the rest into pig iron.


The company has forecast continued optimum performances at its furnaces for the fourth quarter of 2019-20.


With the recent firming of iron and steel prices in India and globally, the outlook for pig iron is optimistic.


The company also posted DI pipes sales at 53,727 mt in the third quarter of 2019-20, down by 19% from Q3 the prior year, and a fall of 4% from the previous quarter. 


The company’s Ebidta is at Rs81.14 crore in the third quarter of 2019-20, up by 7% from the prior year and significantly up by 74% compared to previous quarter. 


$1 = 71.03

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