JSW is negotiating quarterly contracts with auto majors considering the volatility in the spot steel market, SteelMint learned from the investors call held today. The revised quarterly auto contracts will be rolled out in Q4 FY21 (Jan ’21 – Mar ’21) & Q1 FY 22 (Apr ’21 – Jun ’21) if the negotiations sails through. The move is expected to even out the burden faced by both the mills and auto majors due to steep hike in the steel price.
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