{"id":127591,"date":"2019-07-14T16:30:37","date_gmt":"2019-07-14T16:30:37","guid":{"rendered":"https:\/\/www.bnreport.com\/tata-steels-q1-consolidated-steel-output-grows-9-per-cent-to-7-61-mt\/"},"modified":"2019-07-14T16:30:37","modified_gmt":"2019-07-14T16:30:37","slug":"tata-steels-q1-consolidated-steel-output-grows-9-per-cent-to-7-61-mt","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/tata-steels-q1-consolidated-steel-output-grows-9-per-cent-to-7-61-mt\/","title":{"rendered":"Tata Steel\u2019s Q1 consolidated steel output grows 9 per cent to 7.61 MT"},"content":{"rendered":"

Domestic steel giant Tata Steel<\/a> Sunday said its consolidated steel production rose by 9.18 per cent to 7.61 million tonnes (MT) in the first quarter of the current fiscal. <\/p>\n

The company's output in the year-ago period was at 6.97 MT, Tata Steel Ltd<\/a> said in a BSE filing. <\/p>\n

During April-June 2019, Tata Steel India<\/a> produced 4.37 MT as against 3.64 MT in the same quarter a year ago. <\/p>\n

In Europe, Tata Steel Europe produced 2.66 MT in the quarter as compared to 2.81 MT in the same period of 2018-19. <\/p>\n

Tata Steel South East Asia produced 0.58 MT in April-June over 0.52 MT in the corresponding quarter last fiscal. <\/p>\n

Tata Steel's consolidated sales during the quarter under review stood at 6.75 MT, up from 6.39 MT in the same period a year ago. <\/p>\n

During April-June 2019, Tata Steel India sold 3.87 MT as against 3.34 MT in the same quarter last year. <\/p>\n

In Europe, it sold 2.27 MT as compared to 2.45 MT. <\/p>\n

In South East Asia, the company sold 0.61 MT in the quarter as against 0.60 MT in the same period previous fiscal. <\/p>\n

"Global business confidence has dipped sharply in recent months amidst broader economic weakness and the uncertainty around the ongoing US-China trade conflict<\/a>, which has had an adverse effect on investment decisions, capex spend and trade flows. Consequently, steel prices across many geographies declined in 1QFY20. <\/p>\n

"This coincided with a sharp rise in iron ore prices due to supply disruptions and elevated coking coal costs. As a result, market spreads for steel producers globally have been affected," Tata Steel said in the filing. <\/p>\n

In India, the company said that liquidity issues in the NBFC and banking sector along with rural stress have negatively impacted sentiments and overall economic activities, including domestic consumption. <\/p>\n

Despite this, Tata Steel's production in India during first quarter increased by 20 per cent year-on-year with consolidation of Tata Steel BSL for the full quaRead More \u2013 Source<\/strong><\/a><\/p>\n

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Domestic steel giant Tata Steel Sunday said its consolidated..<\/p>\n","protected":false},"author":1,"featured_media":127592,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-127591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nTata Steel\u2019s Q1 consolidated steel output grows 9 per cent to 7.61 MT - Business News Report<\/title>\n<meta name=\"description\" content=\"Domestic steel giant Tata Steel Sunday said its consolidated..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/tata-steels-q1-consolidated-steel-output-grows-9-per-cent-to-7-61-mt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tata Steel\u2019s Q1 consolidated steel output grows 9 per cent to 7.61 MT - 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