Indian metal producers suggest auto-grade metal value hike amid coal volatility By ShahBlogger

Immediately, amid coal value volatility, Indian metal producers are negotiating a value enhance for auto-grade metal. The proposed hike is Rs 2,000-3000 per tonne for decent rolled coils and Rs 4,500-6,000 per tonne for chilly rolled coils. The finalization of those contracts is anticipated inside a fortnight.

This transfer comes months after automakers initiated a considerable value hike throughout classes in April 2023 because of the transition to OBD-2 compliant autos. In the identical month, automakers switched to quarterly contracts as a measure to handle value volatility.

For This autumn (January-March, 2023), mills enacted drastic value reductions on cold and hot rolled coils. This was a shift from the third quarter (October-December, 2022), which witnessed important value cuts of Rs 4,000-5,000 per tonne throughout all classes.

The present proposal for a value enhance signifies a possible reversal within the pricing pattern noticed over the previous yr. Because the trade continues to grapple with market uncertainties and provide chain disruptions, these negotiations underscore the continuing efforts to steadiness operational prices with market demand.

This text was generated with the assist of AI and reviewed by an editor. For extra info see our T&C.