The India division of the steel giant reported a 2 percent increase in crude steel production, from 4.73 million tons in Q2 FY22 to 4.81 million tons in Q2 FY23.
From 4.92 million tons in Q1 FY23, crude steel production fell 2.24 percent from quarter to quarter. According to the corporation, planned maintenance shutdowns were mostly to blame for the drop in steel production. Production of crude steel increased by 4% year over year on a half-year basis.
Despite seasonal weakness brought on by the monsoons, deliveries reached 4.91 mln tons, a gain of 7 percent YoY and 21 percent QoQ. Domestic deliveries increased to 4.37 million tons from the previous high of Q4 FY22. According to the firm, Tata Steel serves over 87% of the domestic market.
Tata Steel Europe's steel output fell to 2.40 million tons in Q2 FY23, a 6.25 percent year-over-year and 1.64 percent quarter-over-quarter reduction. 1.88 million tons were delivered overall in Q2 FY23, a 12.15 percent YoY and QoQ decline. Seasonal factors contributed to the reduced overall delivery, the business claimed.
Tata Steel Thailand reported 0.30 million tons of production in Q2 FY23, an increase of 11% year over year, and 0.30 million tons of deliveries, a decrease of 9% year over year.
With a 34 million ton capacity for producing crude steel annually, Tata Steel Group is one of the leading steel producers in the world.
The materials and information on this article have been prepared or assembled by Viet Nam Steel and are intended for informational purposes only