Steel Authority of India (Sail) recorded its highest-ever June sales of 1.28 million tonnes, up 18% on-year. Exports also hit a monthly record of 340,000t.

The Indian state-owned steelmaker also achieved the highest-ever June deliveries of rail to Indian Railways, and dispatched its first R-260 grade vanadium-alloyed high-strength 260 meter rails.

“Record June sales and exports by Sail is indicative of the buoyancy and sharp recovery our economy is witnessing,” Indian Minister of Petroleum & Natural Gas and Steel, Dharmendra Pradhan, says in a note seen by Kallanish.

Sail chairman Anil Kumar Chaudhary says: “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 Sail is geared up to leverage all its potential to meet the demands in the country. At the same time, avenues in the export market have also opened up and Sail is relentlessly working to meet the demand generating from the new vistas.”

In the fiscal year through March 2020 Sail produced 16.15mt of crude steel, with exports reaching an annual record 1.18mt, up 54%.