AT A GLANCE: Tata Steel Europe reports drop in FY sales; India continues growth

A summary of Tata Steel's provisional financial results for the fourth quarter and full year of its 2020 year ended March 31, 2020.

In brief 
Steel demand has declined due to the Covid-19 pandemic in Europe with customers, including automotive producers, pausing production and utilization levels currently at 70%. Sales and production for the full year were down year on year, but then increased quarter on quarter in the fourth quarter, the report said.
Tata Steel India reported higher yearly production and sales statistics following the ramp up at Tata Steel BSL - formerly Bhushan steel - and Tata Steel Long products' acquisition of the Usha Martin Steel business.

Coronavirus-led...

Published

Carrie Bone

April 22, 2020

16:35 GMT

London