Tata Steel November sales soar 35%

Tata Steel November sales soar 35%

New Delhi: Tata Steel Monday said it witnessed a 35% rise in sales to 4.98 lakh tonne in November, against 3.70 lakh tonne in the same month last year, mainly on the back of improved demand from the construction and whitegoods sectors.

The steel major said in the reporting month there was 56% increase in flat steel products sale and 13% in long steel products sale. However, the company did not give out any details on the volume of these products.

Flat steel products are primarily consumed by automobile and whitegoods sectors while long steel is used mainly by infrastructure firms.

During the month, the company saw its saleable steel output rise 16% to 5.25 lakh tonne from 4.51 lakh tonne a year ago.

Its crude steel and hot metal production inched up by 2% in November to 5.26 lakh tonne and 5.88 lakh tonne, respectively against the year-ago month, making it the “best ever" November output for both the segments.

The firm said it “completed November 2009 with an increase in its hot metal, crude steel and saleable steel production over the corresponding month last year."