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India: Steel mills, OEMs lock horns over auto contracts

ABSTRACT

Steel mills and auto manufacturers have locked horns over the current quarter’s contracts on two counts. One is what the auto original equipment manufacturers (OEMs) deem as too steep a hike in the offers mills are making. Second is the clamour for quarterly contracts from the steel mills.
SteelMint has learnt from reliable sources that the mills have sought a whopping INR 10,000-11,000/tonne increase in their offers to the auto makers, for the Apr-Jun ’21 quarter on a pro rata basis. The last time the mills had negotiated an interim hike of around INR 7,350/tonne ($102) in flats and

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