Tag: auto OEMs revert to quarterly contracts; deal closures expected this week

Steel mills and auto original equipment manufacturers (OEMs) are likely to close the auto contracts for Q1 (April-June, 2022) and Q2 (July-September, 2022) this week itself. The contracts have been mainly half yearly but sources told SteelMint, with the markets volatile and prices falling sharply, OEMs jointly pressurized the mills to opt for quarterly arrangements,…