Tata Steel produced 18.21mn mt crude steel in financial year 2020 (FY2020), a growth of 8pc compared to FY2019. The company’s steel output increased due to ramp up of production at Tata Steel BSL and the acquisition of Usha Martin Steel. Tata Steel India also reported its highest ever sales volume of 16.97mn mt in FY2020, according to a company release on April 22.

 

Production was up by 6pc at 4.74mn mt in the fourth quarter (Q4 FY2020), as compared to the prior year. In the first week of April 2020, Tata Steel decided to cut production to match reduced demand. Tata Steel India includes Tata Steel Standalone, Tata Steel BSL (from May 18, 2018) and Tata Steel Long Products (from April 09, 2019) without eliminating inter-company transactions.

 

The company recorded its highest annual sales for branded products in the retail segment, with an increase of 8pc compared to 2019. 

However, sales volumes in Q4 fell by 15pc to 4.03mn mt from the prior year, due to lockdown measures taken by governments which led to lower demand; and the shut down of the automotive and construction sectors across the world since March 20.

 

Tata Steel Europe

Tata Steel Europe’s sales were down by 8pc to 2.37mn mt in the fourth quarter of the financial year 2020 as compared to the prior year. Production also fell by 6pc to 2.56mn mt. European steel demand has fallen and many customers, including European car manufacturers, have temporarily stopped production. Tata Steel’s Europe mills are presently running at around 70pc of capacity and dispatches are continuing both, in the UK and the Netherlands.

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