Big steelmakers halt multi-year auto accords-paper

Newswire

FRANKFURT, June 26 (Reuters) - Major steel producers will drop multi-year price deals with carmakers and suppliers as a result of volatile steel prices, an automotive industry paper reported, calling it bad news for steel customers. "There will be no more multi-year contracts," Automotive News quoted Freek Schut, automotive commercial manager at Europe's number-two steel producer Corus , as saying in a report released ahead of publication on Monday. "We are now quoting prices on a yearly ...

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