Tag: India: Mills reduce Q3 auto contracts by up to INR 4900/t

India: Mills reduce Q3 auto contracts by up to INR 4,900/t

Nov 30, 2022

—

by

Kalpesh Padhiar

in HRC

Indian mills have agreed to a reduction of INR 4,900/tonne (t) in hot rolled coils (HRCs) and INR 4,200/t in cold rolled coils (CRCs) prices in Q3FY23 auto contracts. Mills and auto OEMs had shifted to quarterly contracts since April 2022 owing to high volatility in commodity prices. Auto segment contributes around 9-10% of total…