Tag: coronavirus impact

$3 billion cash flows stuck on account of lockdown, auto parts companies urge vehicle makers to release timely payment – ET Auto

on March 30, 2020

More than 100 component makers have already made an advance payment to 100,000 blue-collared workers a fortnight before the scheduled date of payment. Mumbai: 21 days lock down would choke fledgling Indian auto component industry with over a $3 billion or Rs 25000 crore of cash flows.Having [...]

Steel industry faces inventory build, liquidity issues – ET Auto

by admin

on March 30, 2020

As far as exports are concerned, ICRA note said the rapid spread of the outbreak to countries other than China have disrupted the seaborne steel trade, and the same is likely to fall further amidst the looming uncertainty surrounding global growth. New Delhi: The performance of domestic steel [...]

COVID-19 lockdown impact: Auto component industry takes a hit of Rs 1000-1200 crore each day – ET Auto

by admin

on March 27, 2020

ACMA claims that over 1 lakh contractual employees have already been paid their salary for the month of March. New Delhi: Due to 21-day nationwide lockdown in the wake of coronavirus outbreak, the domestic auto component industry is suffering a loss of around Rs 1,200 crore per day, the industry [...]

Collapsing auto sector a body blow for industrial metals – ET Auto

by admin

on March 27, 2020

Car sales were already weak globally. The coronavirus will cause them to implode, a second tail-wind demand hit for metals. By Andy HomeLONDON, - France's Recylex has just announced the temporary closure of both its German lead smelter and two battery-recycling plants, one in Germany and one in [...]