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Tuticorin Sterlite shut down to impact 40pct of country copper output-2018 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
5/31/2018 有色金属展- Copper exhibition -non-ferrous metals expo |
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Indian Express reported that the Tamil Nadu government’s decision to shut down Vedanta Limited’s copper plant at Tuticorin, which accounts for a 40% share in India’s annual copper production of 10 lakh tonnes, could have a downstream impact on around 800 small and medium units in the electrical sector. These include cable manufacturers, winding wire units and transformer manufacturers who source from the Tuticorin unit of Sterlite Copper most of these units are in the country’s western and northern regions.
The shutdown is also likely to impact India’s copper exports as around 1.6 lakh tonnes of Tuticorin plant’s production is sold internationally. Ratings agency ICRA, in an April report, has said that the consumption of copper in the country has been increasing steadily over the past five years and at a current local demand growth of 7-8 % per year, India is projected to turn into a net importer of the metal by the year ending March 2020 if no new plant is commissioned. The shutting down of the Tuticorin smelter could potentially advance this projection.
Currently, three major players dominate the Indian Copper Industry. Hindustan Copper Limited is a central government public sector unit and it has the capacity to produce 99,500 tonnes of copper per year. Hindalco Industries and Sterlite Copper are private sector companies that can produce 5 lakh tonnes and 4 lakh tonnes of copper annually.
India’s copper industry produces around 10 lakh tonnes per annum of refined copper. Around 40 % of the industry’s production is exported, mainly to China. For Sterlite Copper, specifically, exports contributed 41 % of overall sales for 2016-17. The source added that “The shutdown of the Tuticorin plant could lead to direct and indirect job losses of up to 50,000.”
有色金属展-铜材展-2018年广州国际有色金属工业（铜业）展览会
-2018 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
-Non-Ferrous Metal exhibition, 2018
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