SAIL'S HOME SALES IN MAY UP 34 PER CENT

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The Steel Authority of India Ltd. (SAIL), a public sector undertaking of the Ministry of Steel has sold 8.2 lakh tonnes of steel products in the home market in the month of May 2002 recording a growth of 34 per cent over the same month last year. As a result total inventories with SAIL declined by 75,000 tonnes during the month. For the first time stocks of steel with SAIL fell to a level below that of April 1, 2002. There was heavy stock liquidation of flat products inventory in May 2002 with total stock in this category lower by 65,000 tonnes compared to the inventory held on April 1, 2002. Total sales during April-May 2002 in the home market was a record 1.42 million tonnes, showing a phenomenal growth of 36 per cent over the performance in the same period last year.