Automakers to benefit from softening steel prices, duty cuts on fuels

On an average, a two-wheeler, a passenger car and a heavy commercial vehicle comprise of about 110, 800 and 3,000 kg of steel. Every 10% drop in steel prices potentially expands automakers’ margins by 60-200 basis points. The trend of softening steel prices may continue with the Union Government’s decision to impose 15% export duty on iron ore and steel.

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