Indian auto contracts likely to face a hike of 10-12% in H2 FY’21

Indian automakers are likely to see a price increase of around 10-12% for half-yearly contracts with steel companies, JSW Steel’s management highlighted in investors conference call conducted today. Although contracts are under negotiation, but price outlook is positive. Company’s automotive steel sales increased by 33% y-o-y in Q2 FY’21.