Tata Steel’s Q3 saleable steel output dips

Tata Steel on Friday reported a marginal 1.2% drop in saleable steel production in the country to 3.24 million tonnes (MT) for the third quarter of the ongoing fiscal. The company had posted a saleable steel output of 3.28 MT (actual) in the same quarter of last fiscal, Tata Steel said in a statement. The third quarter production figure of the current fiscal is provisional. However, the company’s saleable steel output in India in April-December period of the ongoing fiscal increased to 9.23 MT (provisional). The company registered “sales of 3.3 million tonnes in Q3 FY18,” in India, the statement said. Tata Steel Group has an annual crude steel capacity of 27.5 million tonnes per annum (MTPA) as on 31 March 2017. It is a geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.