Contract rates with auto cos hiked by Rs 6,200/tonne: Kalyani Steels
The price increase that steel companies have been renegotiating with auto companies has been accepted this week. CNBC-TV18 has learnt that there has been increase of approximately Rs 5,000-7,000 per tonne.
The price increase that steel companies have been renegotiating with auto companies has been accepted this week. CNBC-TV18 has learnt that there has been increase of approximately Rs 5,000-7,000 per tonne.
RK Goyal, MD of Kalyani Steels said, “We have renegotiated the prices for steel largely for auto components with all the auto companies and we have settled it with effect from January 1st and we have got an increase of around Rs 6,200 per metric tonne.”
“There is no discount price at which we sell to auto companies, for different grades, different sizes there are different prices. This is the average increase we got on a particular grade or size.”
He further added, “We did not get what we wanted, we were asking for around Rs 7,500 per metric tonne. We had to settle with this Rs 6,200. From April 1st as cost are again increasing largely for all ferro alloy so we will be negotiating once again and let us see whether we get the rest part of the compensation.”
For full interview, watch accompanying video
(Edited by : Abhishek Jha)
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