Steel Authority of India Limited’s (Sail) hot metal production surged by 12pc to 4.8mn mt in Q3 FY21 (Oct-Dec) compared to prior-year period. Sail’s crude steel production was also up by 9pc to 4.37mn mt.
The company’s saleable steel sales (domestic and exports) increased by 6pc to 4.32mn mt in the same period.
Sail chairman Soma Mondal said, “The first quarter was impacted due to the onset of the pandemic but gradually we have scaled up our performance by enhancing the volumes. It is heartening that the pre-COVID levels have already been reached and the production has grown over CPLY in the last quarter.”
She added that the domestic steel consumption has a positive outlook as the economy is reviving and all sectors have started to pick-up.
Sale of iron ore fines
The Ministry of Mines has allowed Sail to sell 25pc of its total iron ore production calculated on the basis of cumulative production of all captive mines in a state, as well as sub-grade minerals lying at the mine pit heads.
In compliance of this notification, Sail has already sold approximately 2.16 mn mt of fresh fines through auction during the current financial year from various mines. Around 0.3 mn mt of dump fines and tailings have also been auctioned during this period. This has helped ease the shortage of iron ore in the market to some extent.
Sail’s production and sales for Q3 FY21 (in mn mt):
|Production & Sales||Q3FY21||Q3FY20||Q2FY21||9M:FY21||Y-o-Y||Q-o-Q|
|Hot Metal Production||4.8||4.3||4.13||11.6||11.6pc||16pc|
|Crude Steel Production||4.37||4||3.82||10.6||9.3pc||14pc|
|Saleable Steel Production||4.15||3.9||3.75||10.2||6.4pc||11pc|
|Saleable Steel Sales||4.32||4.09||4.21||10.76||5.6pc||3pc|