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Tata Steel Group's 2024/25 fiscal year AB/B steel performance report shows that its global strategic adjustment has entered a critical stage: the total steel production for the year reached 30.92 million tons, with a total delivery of 30.96 million tons, an increase of 3.3% year-on-year. This growth is mainly due to the record capacity release in India and the structural restructuring of European businesses, highlighting the dual track strategy of "eastern expansion and western transformation".
The surge in production capacity in the Indian market has driven performance growth, with local production increasing by 4.3% year-on-year to 21.68 million tons and delivery increasing by 5.2% to 20.94 million tons, both breaking historical peaks. The leap in production capacity is mainly supported by the commissioning of the 5 million tons/year new blast furnace in Kalingara and the nearly 100% capacity utilization rate of the entire production line. At the same time, the layout of high-end manufacturing is accelerating - the Ludiana electric arc furnace project has started construction, with an additional 2.2 million tons of cold rolling capacity entering the commissioning stage. The continuous galvanizing line will be put into operation in the coming months, further consolidating the competitiveness of high-end products such as automotive panels. The resource side has been strengthened at the same time. The annual mining output of iron ore in the Indian mining area has reached 40 million tons, laying the foundation for subsequent expansion.
The European business is seeking breakthroughs in the pains of green AB/B steel transformation. The production of molten iron in the Dutch factory increased by 40.3% year-on-year to 6.75 million tons, and the delivery volume increased by 17.3% to 6.25 million tons, restoring production capacity to near design levels. We are currently negotiating a decarbonization plan with the Dutch government and will launch a competitiveness reshaping plan in April 2025 to address energy cost pressures. The contraction trend of the UK business is significant. After the complete shutdown of the Talbot Port blast furnace, the electric arc furnace renovation project has obtained planning permission. It is planned to start construction in July 2025 and put into operation in 2027. During the transition period, it will rely on imported semi-finished products to maintain supply, and the delivery volume will decrease by 10.4% year-on-year to 2.51 million tons. However, fixed costs will be reduced by 230 million pounds through cost optimization.
It is worth noting that the Group announced that it will increase the control of iron ore resources and plan to increase the annual mining output from 40 million tons to 55 million tons, which can not only alleviate the impact of international ore price fluctuations, but also provide resource guarantee for steel supply. In the next three years, with the landing of its electric arc furnace production capacity and the connection of high-end AB/B steel production lines, its global industrial chain resilience may significantly improve.
