Tata Steel output back at 100%

Tata Steel's production level has now recovered to 100 per cent as the company sees a revival in domestic demand in the current quarter led by a good monsoon and rural economy, its CEO and Managing Director T V Narendran has said. Due to the market conditions, steel makers like Tata Steel were forced to cut down their operations by up to 50 per cent in April. The players also had to turn to exports to find markets for their produce. However, with the relaxation of lockdown norms, the company ramped up its production in a phased manner. Production is running at 100 per cent and we are now less dependent on exports than we were in Q1 (April-June. The company is now less dependent on exports compared to the first quarter, he added. Tata Steel's overall India operational capacity (including Tata Steel BSL and Tata Steel Long Products) is 20.6 million tonnes per annum (MTPA). In the first quarter of 2020-21, Tata Steel India produced 2.99 million tonnes of crude steel while sales stood at 2.92 million tonnes.