Current Scenario on Metal & Metal Trading
Metals and their varied usage, makes it the backbone of an economy. They mark the economic growth of a country. Metal industry has two main segments: Non-ferrous metals and ferrous metals.
Non – Ferrous
- Ferrous metals primarily consist of iron and different varieties of steel. Demand for ferrous metals comes from construction, automobile, engineering and infrastructure.
- India is increasing its presence in the global steel market as a result of domestic steel consumption. India has seen a rapid rise in production over the past few years, which has resulted in India becoming the fourth largest producer of crude steel with an output of 76.7 million tones. It has been envisaged that steel production will reach 110 million tonnes by 2019-20. However, based on the assessment of the current on-going projects, it has been projected that the crude steel capacity in the country is likely to be 140 mt by 2016-17 and has the potential to reach 149 mt.
Demand for non-ferrous metals comes from sectors such as agriculture, automobiles, railways, telecommunications, construction and chemicals. Non-ferrous metals include aluminium, copper, zinc, lead, nickel and tin.
India is among top 20 major producers copper globally. Falling prices of copper in international markets would benefit India, as it is one of the world’s biggest importers of the metal, alongside China, Japan, South Korea and Germany. As a consequence, volatility in prices of the metal on the LME has a significant bearing on Indian copper trading.
Ushdev trades LME registered Copper Cathodes, Non LME registered Copper Cathodes, Copper scrap, Copper Rods and Copper concentrates.
Nickel finds its usage in various industries such as engineering, electrical and electronics, infrastructure, automobile and automobile components, packaging, batteries etc. Among base metals Nickel is the most volatile owing to its strong demand and tight supply .Nickel demand is derived demand based on the growth of different industrial sector thus exhibits high volatility. About 65 per cent of nickel is used in manufacture of stainless steels, and 20 per cent in other steel and non-ferrous including "super" alloys, often for highly specialized industrial, aerospace and military applications. Major producers of Nickel are Russia, Australia, Canada, new Caledonia and Indonesia which represents over 65% of total world production. Nickel market in India is of total import dependent. India imports around 50,000 mt of Nickel.