Steel Authority of India Ltd (SAIL) on Wednesday said that it has achieved record-breaking performance in the first quarter of FY 2023-24 in terms of production and sales, the Ministry of Steel said in a release.
The company reported a growth of 8 per cent on-year in its crude steel production at 4.667 MT during the Q1FY24, and saleable steel witnessed a growth of 8 per cent at 4.405 MT during the same period. “The production of hot metal, crude steel, and saleable steel of 5.037 MT, 4.667 MT, and 4.405 MT, respectively, marked the best ever first quarter results,” it said.
The ministry also stated that SAIL attained its highest-ever sales performance in the first quarter by achieving a sales volume of 3.9 MT, up 24 per cent during the same period last year. “This record breaking performance by SAIL has come up in the light of its continued focus on maximizing capacity utilization and meeting the customer demands,” it added.
Earlier, World Steel Association (worldsteel) released data which said that India has registered a 4.1 per cent growth in its crude steel production at 11.2 MT amid 5.1 per cent downfall in the global output at 161.6 MT in May 2023. Despite a 7.3 per cent year-on-year (y-o-y) fall, it said, China remained the top steel producing country in May with 90.1 MT crude steel production.