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November 3rd, 2009
- Reports
Mumbai India - Tata India a different story from Tata Corus
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The Indian operations of Tata Steel have shown a 25% jump in sales during August 2009 compared to the same period last year. Thus, compared to sales of 3.92 lakh tonne in August 2008, the steel major sold 4.92 lakh tonne during August this year. The company witnessed 81% increase in sales of long products in August this year, signalling that the construction sector, the main buyers of long products, was gradually gaining momentum.
Similarly, the company's crude steel production for August stood at 5.52 lakh tonne compared to 4.74 lakh tonne during the same period last year, thus showing a 16% rise. The company's hot metal production went up by 15% in August 2009 registering an output of 5.97 lakh tonne compared to 5.18 lakh tonne achieved during August 2008, its best ever production in any month so far.
Its saleable steel output increased to 5.26 lakh tonne in August 2009 compared to 4.60 lakh tonne in August 2008, up by 14%. Also, one of its steel melting shops recorded its best ever production of 3.26 lakh tonne.
Meanwhile, Steel Authority of India (Sail) said it has registered a 20% growth in sales of steel at over one million tonne during August 2009 compared to the year-ago period and it expects a better demand in coming months.
JSW Steel Ltd recently announced that its August crude steel output rose 53% to 0.5 million tonne. Production of long products, used in construction and railway lines, more than doubled to 74,000 tonne, while flat products, used in automobiles, rose 8% to 0.3 million tonne.
On the back drop of improvement in demand, Sail and Tata Steel had last week hiked prices of some of their products by up to Rs 1,500 a tonne. Sail and Tata Steel have raised prices of their flat steel products primarily consumed by automobile and the white goods industry. Prices of long steel products used in construction and infrastructure sector, however, remained unchanged.
“Tata Steel has increased prices of its flat steel products by 3-4 % in the spot market in line with the firming of demand,” a company spokesperson said. The increase in rupee terms hovers in the range of Rs 1,250-1,500 per tonne depending on the grade and type of the product.
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