China’s Benxi Iron and Steel has announced a contract to supply Tata Motors 5,000 tonnes of auto steel sheet.
This is the first major high volume export order for the Chinese steel maker which expects to deliver the order by 5 August. The two companies areexoected to sign a long term contract on completion of this first order.
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Benxi said in a statement: “India is Asia’s second largest auto market, global and Indian companies are competing for [market share].
It noted it had been certified as a global supplier to General Motors.
According to Chinese customs data, steel exports surged 14% month on month in June to 5.62m tonnes – the first time shipments exceeded 5m tonnes since September 2008.
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