Tata Steel Europe Delivery Volumes Tumbled in Q4 FY23

SEATTLE (Scrap Monster): Tata Steel’s production volume in India surged higher during the fourth quarter of FY 2022-’23, according to provisional data shared by the steelmaker. However, the company’s Europe delivery volume was down significantly during the quarter, it said.

Tata Steel’s India production volumes totalled 5.15 million metric tonnes in Q4 FY23. This is higher by 5.1% when compared with the production volume which had totalled 4.90 million metric tonnes in the year-ago quarter. Upon comparison with Q3, the production was up by 3%. Also, the production volume for the entire FY23 totalled 19.87 mt, higher by 4% when matched with 19.06 mt produced in FY 22.

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The steelmaker reported highest ever annual production, aided by the recent acquisition of state-run steelmaker, Neelachal Ispat Nigam Limited (NINL).

In terms of deliveries made in European region, the company reported 11.3% year-on-year dip during Q4 FY23. Tata Steel Europe’s delivery volumes during the quarter totalled 2.13 mt, as compared with 2.40 mt in corresponding quarter the previous fiscal. For the entire fiscal year FY23, the Europe delivery volume stood at 8.12 mt, which is much lower when compared with 9.02 mt recorded in FY22. The production volumes by Tata Steel Europe remained flat at 2.31 mt in Q4 FY23.