Tata Steel on Wednesday said its European subsidiary Corus will be able to meet full capacity utilisation by the end of the current fiscal, riding on revival in global demand.
Corus, which had cut production capacity of its mills by as much as 50 per cent amid the demand slump last year, has currently revived the utilisation of its mills to 80 per cent.
“In October, the capacity utilisation had touched 80 per cent. It should be 85 per cent by the end of November and 100 per cent by the end of this financial year,” Tata Steel
vice-chairman B Muthuraman said.
Corus produces about 20 million tonnes of steel per annum. “Demand is coming back in the west,” he added.
Globally, steel producers have started reviving their production capacities with the rise in demand for their products. ArcelorMittal had revived the capacity utilisation
Source:http://www.steelstrip.co.uk/news.htm