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Market Chatter: Procter & Gamble Buying More Steel From India for Gillette Razors
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Market Chatter: Procter & Gamble Buying More Steel From India for Gillette Razors
Dec 5, 2024 5:04 AM

07:36 AM EST, 12/05/2024 (MT Newswires) -- Procter & Gamble ( PG ) is sourcing more stainless steel strips used in its Gillette razor products from India as a precaution against potential new tariffs imposed by the incoming Trump administration, Reuters reported Thursday, citing the company's disclosures to the US Department of Commerce.

According to the report, the company told the government agency that there is no US producer of the kind of stainless steel used in Gillette razors. Reuters said the company's import records showed that India's Jindal Stainless is now Procter & Gamble's ( PG ) main supplier of razor steel, after previously sourcing product from Japan and Sweden.

Procter & Gamble ( PG ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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