Tata Steel Ltd.'s Indian steel production totaled 4.46 million tons in the third quarter of its fiscal 2020, rising from 4.38 million tons year over year, according to provisional figures released Jan. 10.
Sales increased yearly to 4.84 million tons from 3.89 million tons and grew 17% quarterly from 4.13 million tons.
Tata Steel India includes Tata Steel stand-alone, Tata Steel BSL Ltd. and Tata Steel Long Products Ltd.
The company expects Indian steel prices to improve with strong retail demand and ongoing restocking demand from dealers.
Tata Steel Europe Ltd.'s steel production grew year over year to 2.50 million tons from 2.34 million tons while sales slipped to 2.31 million tons from 2.35 million tons.
In Europe, the company said declining steel prices caused by an overall economic slowdown coupled with seasonal weaknesses offset the benefit of lower raw material prices.
Tata Steel Southeast Asia's steel output dipped to 490,000 tons, from 520,000 tons in the year-ago period, and was lower compared to 570,000 tons in the previous quarter due to continued sluggishness in the Singapore and Thailand markets. Sales improved to 590,000 tons from 570,000 tons on a yearly basis.