Tata Steel domestic sales down 1% in Dec qtr

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Tata Steel domestic sales down 1% in Dec qtr

Reuters / Mumbai 09 Jan 12 | 07:54 PM

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Tata Steel, the world's seventh-largest steelmaker, said on Monday sales from its Indian operations fell 1.1% to 1.62 million tonne in October-December.

The Indian operations account for about a quarter of the group's total annual global capacity of about 28 million tonne, which includes unit Corus, Europe's second-largest steelmaker.

Sales of flat products, used in cars and consumer goods, rose 3% from a year ago, the company said, but sales of long-steel products, used mostly in construction industry, were lower due to a planned shutdown in the mills.

The company's crude steel production in India rose 2.4% in the quarter to 1.77 million tonne, it said in a statement.