Tata Steel reports rise in production, sales in H1 of fiscal 2012

Tata Steel reported total sales of 3.241 million tonnes in the first half (H1) of fiscal 2012, as against 3.064 million tonnes in H1 of the previous fiscal.
Hot metal production was up at 3.889 million tonnes (3.723 mt for H1 of fiscal 2011), crude steel at 3.536 mt (3.353 mt) and saleable steel at 3.46 mt (3.201 mt).

But there was a marginal fall in total sales in the second-quarter (Q2) of the fiscal at 1.648 mt, as against 1.664 mt in Q2 of the previous fiscal. But production of hot metal was up at 1.946 mt in Q2 of the current financial year (1.899 mt in the previous year's Q2), crude steel at 1.742 mt (1.726 mt) and saleable steel at 1.71 mt (1.61 mt).

According to the company, flat products sale in Q2 of the current fiscal was up by three per cent on a year-on-year basis. Long products achieved the best-ever quarterly retail sales of 268 kt (previous best: 242 kt in Q1 fiscal 2012).

A steel melting shop achieved its highest-ever quarterly production of 994 kt, while the long products rolling mill recorded its best quarterly production of new bars and wire rods, said the company.

The Tata Steel group is amongst the leading steel manufacturers in the world with an annual crude steel capacity of over 28 million tonnes per annum. Established in 1907 as Asia's first integrated  private sector steel company, the group is now the world's second-most  geographically-diversified steel producer, with operations in 26 countries and  a commercial presence in over 50 countries.

The Tata Steel group, with a turnover of $26.64 billion in fiscal 2011, has over 81,000 employees across five continents and is a Fortune 500 company.