Steel companies are weighing the spiraling cost of raw material as they head for discussions with automobile companies for contracts starting April. Usually, the average price of steel for six months is set as a benchmark for negotiations.
This time the spike in raw material prices due to the Russia-Ukraine war is likely to shape discussions with auto companies. “Our teams are in discussion with automotive companies and have apprised them of the situation in the market. Discussions for the next contracts have been initiated,” said Jayant Acharya, JSW Steel director ...
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