According to the report, Tata Steel indicated that the Indian auto industry demand gradually rose for the second quarter, but there is still sales pressure on infrastructure and commodities.

Tata Steel also announced its current expansion projects, including the annual capacity production of 6 million for the pelletizing plant in Kalinganagar, expected to operate in the third quarter in 2023, and the construction of an electric arc furnace (EAF) in Punjab also began, with the annual production of 750,000 tons.

In the second quarter of this year, Tata Steel's steel production volume declined by 2% quarter on quarter to 4.64 million tons and up by 2% year on year; Tata Steel's steel product sale volume increased by 18% quarter on quarter to 4.76 million tons and rose by 8% from the same period a year ago. Tata Steel predicts that short-term mainstream industry demand will gradually recover, and steel prices are expected to fluctuate on the high side.