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Tata Steel boosts fiscal Q2'19 output at Indian ops on better plant availability

Tata Steel Ltd.'s Indian operations produced about 3.27 million tonnes of steel in the second quarter of its fiscal 2019, slightly up from 3.20 million tonnes produced in the year-ago period, driven by better plant availability.

Sales rose to 3.18 million tonnes, from 3.08 million tonnes a year earlier, according to provisional figures released Oct. 8.

In the fiscal first half, output totaled 6.44 million tonnes, compared to 6.15 million tonnes a year earlier, and steel deliveries rose to 6.14 million tonnes from 5.83 million tonnes.

Steel output at the company's European operations during the quarter slipped to 2.46 million tonnes from 2.60 million tonnes due to shutdowns and annual maintenance programs.

Sales totaled 2.25 million tonnes, down from 2.60 million tonnes, driven by weaker production.

The European operations produced 5.27 million tonnes of steel in the half, falling from 5.39 million tonnes a year ago. Steel sales decreased to 4.70 million tonnes from 5.01 million tonnes.

Production at Tata's Southeast Asian operations in the quarter reached 550,000 tonnes, dropping from 610,000 tonnes a year earlier, and sales dipped to 650,000 tonnes from 670,000 tonnes.

The results were affected by lower production at Tata Steel Thailand, in line with weak demand in the country, while Nat Steel's output was affected by annual maintenance and other issues.

The operations produced 1.07 million tonnes of steel in the fiscal first half, declining from 1.11 million tonnes, with sales coming in slightly lower, at 1.25 million tonnes compared to 1.27 million tonnes.

Quarterly production at Bhushan Steel Ltd. reached 1.05 million tonnes, up from 850,000 tonnes a year earlier, and sales climbed to 1.14 million tonnes from 1.03 million tonnes.

Bhushan's steel output and sales in the fiscal first half reached 2.09 million tonnes and 1.99 million tonnes, respectively, up from 1.84 million tonnes and 1.88 million tonnes a year ago.

The steel giant completed the acquisition of a majority interest in Bhushan in May.