Tata Steel increased steel production in India by 5% y/y in July-September

Domestic supplies increased by 5.8% year-on-year in this period

Tata Steel, an Indian steelmaker with assets in Europe, increased steel production in India by 5% year-on-year – to 5.27 million tons in July-September 2024 (Q2 2024/2025). This is reported by Financial Express with reference to preliminary data from the company.

Domestic supplies in the period increased by 5.8% y/y – to 5.10 million tons.

In the first half of FY2024/2025, Tata Steel India increased steel production by 5% y/y – to 10.53 million tons.

Tata Steel Netherlands produced 1.68 million tons of steel in July-September, up 41.2% year-on-year. Shipments amounted to 3.04 million tons, up 16.9% year-on-year.

Tata Steel UK in the second quarter of 2024/2025 fiscal year reduced steel production by 50% y/y – to 0.38 million tons. Shipments fell by 12.3% y/y – to 0.64 million tons. On September 30, 2024, Tata Steel shut down the last blast furnace (BF No. 4) at its British facility in Port Talbot, ending the production of pig iron and primary steel at the plant.

At the same time, in September 2024, Tata Steel India successfully commissioned the country’s largest blast furnace in Kalinganagar. It is noted that by increasing capacity at this site, the company will increase steel production in the country to 26.6 million tons per year.

In September 2024, Tata Steel’s Dutch subsidiary announced cost cuts to cope with the current deteriorating market conditions. According to the company, there is a significant overcapacity in the European market. Steel prices are low and customers are taking a wait-and-see attitude. In addition, the automotive industry is under pressure, which directly affects the steelmaker.