Tata Steel Apr-Jun crude steel sales decline 2% YoY on exports fall

5 Jul 2022

Tata Steel Ltd’s crude steel sales from its domestic plants declined 2.2% on year to 4.06 mln tn in Apr-Jun, the company said in a quarterly update today. Compared to the previous quarter the sales were down by 21%.

The company said this was “due to moderation in exports following the imposition of 15% export duty.”

The steel major increased its crude steel production from domestic plants by 6.3% on year to 4.92 mln tn. Sequentially, it was marginally higher by 0.4%.

From its operations in Europe, Tata Steel’s crude steel sales fell 7.3% on year, and 10% on quarter, to 2.16 mln tn during the June quarter. The production in this region fell 9% on year to 2.43 mln tn.

Tata Steel’s Thailand plants also saw sales fall 11% on year and 8.8% on quarter to 0.31 mln tn. The production figures for these plants were the exact same as sales.

The company said that its automotive and special products segment deliveries increased by 22% on year in Apr-Jun, while those for its industrial products and projects segment increased by 8% on year.