India: Major automaker cuts ADC12 settlement prices for Jan'25 to 10-month low amid weak demand

A prominent automobile manufacturer reduced its ADC12 prices by INR 1,000/t for Jan'25 settlements to INR 208,000/t, against INR 209,000/t in Dec'24. This marks the lowest price in ten months, with similar levels last recorded in Mar'24. The cut was mainly due to ongoing weak demand in the automobile sector. Meanwhile, the scrap to semi-finished spread was at INR 33,000-34,000/t, down INR 3,000/t m-o-m.