Tata Steel India’s production volume remained flat at 4.46mn mt in the third quarter of the financial year 2020, amid an economic slowdown and lower investments by the private sector, according to the company’s quarterly results.
Tata Steel Europe’s production volume was flat at 2.50mn mt, from the year prior.
Domestic steel prices were at their lowest in October 2019, in the financial year 2019. Prices are likely to increase in the near term, with a higher demand in the retail sector and dealers raising their inventories.
The company’s South East Asian operations registered a lower production volume from the previous quarter, as Singapore and Thailand markets remained sluggish during the December quarter.
As the first phase of the US-China trade drew to a close, steel demand and prices are likely to increase globally.