Booming demand boosts Tata Steel Europe performance

Tata Steel Europe saw performance increase significantly during the fourth fiscal quarter through March, thanks to a jump in demand, Kallanish notes.

Deliveries increased 17% quarter-on-quarter and 3% year-on-year in the March quarter to almost 2.5mt. Ebitda jumped to $125 million.

Crude steel production across Tata Steel’s European mills also returned to Q1 2020 levels, at above 2.6mt.

“The EU steel demand recovery is ongoing; the automotive segment is witnessing a robust recovery,” Indian parent Tata Steel says in a presentation. “Steel demand improvement is outpacing supply, leading to a strong increase in steel prices and spot spreads.”

Emanuele Norsa Italy