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| Tata Steel posts 14 per cent drop in Q3 sales |
| BS Reporter / Kolkata Jan 07, 2009, 00:30 IST |
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 Tata Steel, the world's six-largest steel maker, has registered a 14 per cent decline in sales to 1.07 million tonnes in the third quarter compared to the corresponding quarter last year due to the current economic slowdown.
The decline in overall sales was inspite of a 27 per cent growth in sales of long products (mainly used in the construction industry) at 0.48 million tonnes.
Industry sources pointed out that the worldwide sales of flat products — primarily used by the automobile and the white goods sectors — was facing a downturn and the company's fall in sales was a reflection of the trend.
The company registered an increase in hot metal and crude steel production, while saleable steel production was at the same level despite a major shutdown.
During the period, hot metal production was higher by 23 per cent at 1.70 million tonnes and crude steel production 17 per cent at 1.50 million tonnes.
Saleable steel production remained almost at the same level of 1.24 million tonnes despite the planned major shutdown of the hot strip mills.
Tata Steel has commissioned the third billet caster at steel melting shop 1 and completed upgradation of roughing mill of hot strip mill as part of 1.8-million-tonnes expansion of the existing units.
The company is also keen to continue with its growth plan to raise the capacity at Jamshedpur Works to 10 million tonnes by 2010.
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