India’s tier-1 mills put up a weak sales performance in the third quarter (October-December, 2023) amid rising inventories and imports. Production naturally saw a nominal growth. On a q-o-q basis, in Q3, JSW Steel reported a 4% decline in sales to 5.2 mnt while Tata Steel managed a mere 1% increase to 4.88 mnt. SAIL saw a 20% slide to 3.8 mnt. AM/NS India’s remained flat at 1.87 mnt while JSPL’s fell 10% to 1.81 mnt. On a y-o-y basis, JSW Steel showed a 5% increase while Tata Steel’s was up 3%. SAIL still showed an 8% drop although AM/NS India put up an 18% increase while JSPL’s was down 5%.
