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Steel firms expect higher offtake from auto in Q4 after weak show earlier

It isn't clear how soon the chip shortage will get sorted, but analysts expect a gradual easing of constraints. Over a two-year timeframe, strong growth is expected from CVs and PVs

Tata Steel, manufacturing, metals, jobs, workers, labour

Ishita Ayan Dutt Kolkata
Steel companies are expecting an increase in offtake from the automobile segment in the January-March quarter after its muted showing in the third quarter led by a weak festive demand and supply-side issues.

While two-wheelers suffered on the back of poor demand, volumes of passenger vehicles (PVs) suffered due to supply-side constraints. But according to steelmakers, going by the current trend, Q4 is looking better in terms of offtake from the auto segment.  

ArcelorMittal Nippon Steel India (AM/NS India) chief marketing officer, Ranjan Dhar, said that the cues from the automobile sector are very positive for the January to March

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First Published: Jan 13 2022 | 2:34 PM IST

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