Tata Steel Long’s crude steel production grew 13pc to 0.17mn mt in Q2 FY 2021 (July-September) from the prior-year quarter. Crude steel production grew by 40pc from Q1. The company’s DRI production surged by 29pc to 0.22mn mt from the prior quarter and 69pc from Q1.
in Q2, the company reported saleable steel deliveries of 0.18mn mt, a jump of 50pc compared to the prior-year quarter, according to a company release. DRI sales also jumped by 36pc to 0.19mn mt from the prior year Q2. The company states that production and sales showed the highest-ever quarterly growth.
Improved performance due to ramping-up of production through optimum utilisation rate along with healthy demand from the domestic market helped offset industry debottlenecks, said the company release. With a strong recovery in the domestic demand after the lockdown, the company reduced its export share to 31pc of overall deliveries in Q2 and increased sales to 0.12mn mt.
Tata Steel Long is one of India’s integrated special steel and merchant DRI (sponge iron) players based in Jamshedpur with a production capacity of 1mn mt per annum.
Tata Steel Long’s production and sales for Q2
| Particulars | Q2 FY21 | Q1 FY21 | Q2 FY20 | YoY | QoQ |
|---|---|---|---|---|---|
| Production | |||||
| Direct Reduced Iron | 0.22 | 0.13 | 0.17 | 29% | 69% |
| Crude steel | 0.17 | 0.12 | 0.15 | 13% | 42% |
| Sales Volume | |||||
| Direct Reduced Iron | 0.19 | 0.1 | 0.14 | 36% | 90% |
| Saleable steel | 0.18 | 0.12 | 0.12 | 50% | 50% |