Tata Steel sees sales dip in end-2008
Tata Steel Ltd has reported steel sales of 1.07 million tonnes in the December quarter from its Indian operations, down 14% from a year ago. Sales in the fiscal third quarter were weighed down by the economic slowdown.
However, sales of long products rose an annual 27% in the period. Crude steel production during the quarter rose 17% to 1.50 million tonnes. Saleable steel production was stagnant at 1.24 mn tonnes, despite a planned shutdown at its hot-strip mill. Sales of its long products at 0.48m tonne, however, have been up by 27%.