Power shortage hits Tata Steel output in June quarter

Tata Steel reported that its saleable steel output in the
June quarter was down marginally at 1.74 million tonnes (mt) against 1.75 mt in
the same period last year.

This was largely due to power outages which impacted
downstream production, the company said in a press release on Friday.

Sales during the quarter under review were unchanged at 1.59
mt. However, it was down 11% compared to 1.79 mt registered in the
fourth quarter.

The company recorded its highest-ever hot metal production
of 2.05 mt (1.94 mt) while crude steel output was up by two per cent at 1.82 mt
(1.79 mt).

Source: The Business Line