Search Result for : Copper

The Dollar Business Bureau ICRA predicts that the demand for base metals will remain firm in future as the government is heavily investing in infrastructure. The Smart City Mission will also boost the use of metals like zinc, aluminium and copper as construction activity picks up pace. Massive investments in infrastructure for distribution and transmission of power will further fuel the output of base metals. During FY 2016-17 (Apr-Nov), the output growth of zinc, aluminium and copper remained high at 7%, 10% and 8% respectively, owing to healthy demand from the power sector and automobile manufacturers. ICRA also notes that after the deployment of an air pollution control program in Beijing, China is likely to cut down its aluminium production by 3 million tonnes, creating a supply shortage globally, which can be leveraged ...

The Dollar Business Bureau India will start next month its biggest aero-geophysical survey for minerals to explore deep-seated resources like copper and gold, as it strives for developing its mining industry and decrease its dependence on minerals imports. More than 200,000 square kilometres of area will be covered by the survey across seven states of the country from Rajasthan in the western region to Andhra Pradesh in the southeast, Balvinder Kumar, Mines Secretary, told Reuters on Monday. The collected data will be made public for domestic and foreign firms later this year to consider mining in India. Only a portion of areas in the country with potential for minerals has been explored which means that India has to import everything from copper to aluminium and asbestos ...

The Dollar Business Bureau  The prices of base metals including aluminium, zinc and copper are unlikely to rise further due to higher production which results in excess markets in 2016, according to a report.  The prices of base metal had gradually strengthened earlier in the initial nine months of this year as a result of the shortfalls in the demand-supply balances of the base metals globally, except some positive sentiments on overall demand scenario in China, said credit rating agency ICRA in a report.  “During the said period, the prices of zinc, aluminium and copper have increased by 53%, 13%, and 4% respectively,” it added.  Among the given three base metals, the deficit in the market of zinc has been the broadest, therefore the prices ...

The Dollar Business Bureau During April-August 2015, China supplied the largest chunk of 69,942 tonnes of copper to India   The government will not raise the import duty on copper even though it is “keeping a close watch” on the inbound shipment of the metal, said Minister of State for Steel and Mines Vishnu Deo Sai. The minister, while responding to a query in the Lok Sabha on Monday, said that the country has exported refined copper worth $912 million between April and August this year and “import is not more than export” during the period. The statement came amid concern over rising import of the metal, especially from ASEAN countries that have free trade pacts with India. According to the ...

The Dollar Business Bureau India’s metal prices depend substantially on Chinese economic activity as China accounts for 40%-50% of the global consumption of aluminium, copper and zinc metals. For China, the latest leading economic indicators are not encouraging with a weak output and low order growth rates as real estate construction activity is unlikely to recover in the short-term. Against this back-drop, Indian industry can sustain realisations and operating profits driven by a steady physical premium, said an industry report. Physical premiums on non-ferrous metals over broad market prices such as London Metal Exchange are likely to remain steady given the oligopolistic nature of the non-ferrous metals market in India. The report said that it does not expect the ...

The Dollar Business Bureau   The recent changes in duty drawback rates and categorisation of handicraft products will help boost India’s handicrafts exports in the coming years, according to the Export Promotion Council for Handicrafts (EPCH). According to official sources, Indian handicrafts exports have grown steadily in the last few years, registering a y/y growth of around 15% to about $3.8 billion in FY2013-14. India’s exports of handicrafts are expected to grow to around $4.5 billion in FY2014-15.  Rakesh Kumar, Executive Director, Export Promotion Council for Handicrafts (EPCH) Overall, exports are expected to get a further boost due to the changes introduced by the government in the duty drawback rates. “This will encourage exporters to do better in the future ...