New Delhi: Steel majors Tata Steel and Steel Authority of India Ltd on Thursday reported a high growth in steel sales for the second quarter ended September 2010.
The July-September 2010 quarter sales reported by SAIL are the highest ever recorded in Q2. The company registered sales of 3.17 million tonnes in the period under review and in comparison to sales in the previous quarter, SAIL achieved a growth of 30.8 per cent. The company's previous best Q2 sales of 3.08 mt were achieved in 2009-10.
SAIL attributed the sales growth to the higher intake by the construction and manufacturing sectors. This was reflected in higher sales of products such as wire, rounds and bars, structurals, cold roll sheets/coils and galvanised items.
Record Production
Meanwhile, Tata Steel's crude steel and hot metal production figures for the second quarter are the highest ever registered by the company for a single quarter.
The company's hot metal production for the July-September quarter stood at 1.89 mt which is around six per cent higher than the corresponding quarter last year.
The pervious best was in Q3 of the 2009-10 fiscal. Crude steel production stood at 1.72 mt which is around five per cent higher than the corresponding quarter last year.
Tata Steel's total sales for the quarter stood at 1.66 mt which is around 14 per cent higher than the corresponding quarter last year. This includes the highest ever long products sales for a quarter which stood at 0.77 mt.
JSW are yet to compute the production and sales figure for the month of September.
However, the company produced 0.52 mt of crude steel in July 2010, nearly four per cent higher than the corresponding month last year while in August 2010 produced 0.53 mt of crude steel which is around three per cent higher than the corresponding month last year.
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