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

Tata Steel India’s crude steel production rose by 55pc in Q1FY22 to 4.62mn mt from 2.99mn mt in the prior-year quarter, Q1FY21, which was adversely impacted by the COVID-19 pandemic and the strict nationwide lockdown. Production in Q1 was down by 2.6pc from Q4, according to provisional data released by the company. The fall in output was due to production cuts taken by the company to divert over 47,800mt of liquid oxygen for medical use during the second wave of COVID-19 infections.


Steel deliveries in India rose by 42pc in Q1FY22 to 4.15mn mt from 2.93mn mt in Q1FY21, while down 11pc from Q4FY21 amid partial lockdowns announced by few states and temporary suspension of manufacturing in some steel-consuming sectors.


An increase of exports to 16pc of the total sales in Q1 from 11pc in Q4FY21 helped offset lower demand in the domestic market. The local market has been improving since mid-June 2021, with many states easing lockdowns.


Tata Steel Europe’s steel production rose by 27pc in Q1 to 2.73mn mt from 2.15mn mt in the prior-year quarter, while steel deliveries increased by 19pc to 2.36mn mt.


Steel production in Tata Steel Southeast Asia increased by 49pc to 0.59mn mt from the prior-year quarter, whereas steel deliveries grew 50pc to 0.63mn mt.

Leave a Reply

Your email address will not be published.