15
Nov
13:11
Sail raises shipments, says 'worst is over'
Steel Authority of India (Sail) increased saleable steel production 1% on-year in the second fiscal quarter through September (FQ2) to 3.56 million tonnes. However, the firm posted a net loss of INR 342.84 crores ($47.8 million) as margin was squeezed by weak market sentiment and slowing consumption.
The state-owned steelmaker increased hot metal and crude steel production 6% and 5% respectively in FQ2 to 4.2mt and 3.89mt. Turnover fell -16% to INR 13,951 crores…
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Anonymous
Very good overview of the weekly steel market.
Anonymous