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Sterlite closure hits copper production in India-2019 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
8/29/2018 有色金属展-Copper exhibition -non-ferrous metals expo |
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Business Standard reported that domestic refined copper production fell 47.1 per cent in quarter ending June (Q1FY19), leading to an increase in price and fall in exports. According to Care Ratings, the production drop has had a domino effect, leading to a sharp fall in exports. Exports from India, which used to be the net exporter of refined copper, dropped 91.6 per cent this quarter. In the same quarter last year, exports had increased by 70.1 per cent. Imports, on the other hand, increased by 221 per cent in the last quarter.
Though the fall in production was mainly due to the closure of Vedanta''s smelter plant at Thoothukudi, the shutdown of smelters of Hindustan Copper and Hindalco for maintenance purposes also had an impact. Tuticorin plant has a capacity of 400,000 tonnes per annum, accounting for 40% of the country’s copper smelting capacity. The facility was shutdown after violent protests from locals
Domestic consumption has seen a decline as the rise in copper prices presented aluminium as an economical alternative. Aluminium can be used as copper''s replacement in wiring in power cable and electrical equipment. Demand for copper in the domestic market is largely dependent on electrical (34%), building & construction (8%), automobiles (11%) and consumer durables segments (8%).
有色金属展-铜材展-2019年广州国际有色金属工业（铜业）展览会
-2019 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
-Non-Ferrous Metal exhibition, 2019
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