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Indian increased Refined Copper Import in FY 20 – Care Rating-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
10/2/2019 - Copper exhibition -non-ferrous metals expo |
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According to CARE Ratings, a demand-supply mismatch in domestic copper market will make India a net importer of refined copper in 2019-20 (FY20). India has emerged as an importer of copper ore and concentrates and imports more than 90% of our concentrate requirements due to the lack of copper mines present in the country. Imports of copper ore and concentrates fell by 44.6% during FY19 due to the lack of requirement from the Tuticorin smelter.
India used to be a net exporter of copper cathodes till FY18. Now with the closure of the Tuticorin smelter, the drop in domestic production has led to the domino effect of increasing the country''s imports and decreasing its exports. India has become a net importer of refined copper after 18 years.
During FY19, exports had fallen by 87.4%, (during FY18 exports had increased by 12.3%) whereas imports increased by 131.2% (during FY18 imports had increased by 35.6%).
India imported refined copper from, Japan (71%), Congo (6%), Singapore (5%), Chile (4%), Tanzania (4%), UAE (4%) and South Africa (3%) and exported refined copper to China (75%), Taiwan (13%), Malaysia (5%), South Korea (5%) and Bangladesh (2%) during FY19. Share of exports towards China has increased, from it being 63% during FY18 to 75% during FY19 and share of imports from Japan has increased from it being 68% during FY18 to 71% during FY19.
有色金属展-铜材展-2020年广州国际有色金属工业（铜业）展览会
-2020 China(Guangzhou)Int’l Non-Ferrous Metal（Copper）Exhibition
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