The company is well stocked up on raw materials for the next couple of months and it would not take a hit on raw material prices assuming they move up, says Manoj Jaiswal, CFO of Ceat.
The European Union will not back down from protecting its industries against Chinese competition it sees as unfair, but mutual self-interest will prevent a damaging trade war, the EU's trade chief Karel De Gucht said.
Tata Steel, the world's 7th-largest producer, may face Chinese competition as it mulls a partnership with a junior Canadian explorer to secure alternative iron ore sources to help feed its European steel mills.