Steel Authority of India Limited (SAIL) generated the maximum revenue in June sales during June’20. Domestic sales and exports contributed to 12.77 Lakh tonnes, a leap of more than 18 per cent over the same duration last year (CPLY). On June 20, the company also reported its highest exports of any month. During this time, 3.4 lakh tonnes of steel were exported.
It also achieved the best ever consignments of rails to the Indian Railways on June 20. Incidentally, for the first time in the world, the Steel Authority of India Limited (SAIL) flagged the first R-260 type Vanadium alloyed high strength rail of 260 meters to the Indian Railways capable of providing higher speed and higher axle load. In addition, during June 2020, SAIL also sold 42 thousand tonnes of Pig Iron.
Commenting on the performance, Dharmendra Pradhan Union Minister of Petroleum & Natural Gas and Steel said: “Record June sales and exports by Steel Authority of India Limited (SAIL) is indicative of the buoyancy and sharp recovery our economy is witnessing."
Anil Kumar Chaudhary Steel Authority of India Limited chairman said, “The Nation has entered into Unlock 2 phase and gradually the pace of industrial activities has started picking up. The market is looking up along with the consumption and Steel Authority of India Limited (SAIL) is geared up to leverage all its potential to domestic demand."
At the same time, avenues in export market have also opened up and Steel Authority of India Limited (SAIL) is relentlessly working to meet the demand generating from the new vistas, he added.