India Metals Report 2015 - Business Monitor International - Industry Reports

India Metals Report 2015

India Metals Report 2015 - Business Monitor International - Industry Reports
India Metals Report 2015
Published Sep 05, 2015
63 pages — Published Sep 05, 2015
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BMI View: India is set to become a major consumer of metals over the coming years as the government makes substantial efforts to improve infrastructure in the country. That said, though some roadblocks concerning the availability of raw materials has been cleared, institutional weaknesses will continue to hinder growth in the metals industry. ...We expect India to become a major consumer of metals in the long term. Though much needed changes to the land acquisition bill have been repeatedly rebuffed by the opposition, we are optimistic on the government s commitment to reform, as it has managed to push through a slew of bills and reforms that has helped to revive investor confidence in the country. The government has also managed to slim down bureaucracy and has made progress in merging departments will improve the coordination between ministries and provide a springboard for pending infrastructure projects. The growing affluence of the population will spur spending on housing and white goods in the coming years. Subsequently, this will trickle down to the metals industry as demand for construction-related materials including steel, copper, zinc and aluminium increases.

...That said, we are aware that several roadblocks will continue to hinder growth in India s steel sector. Over the past decade, a growing number of Indian steelmakers have embarked on upstream investment. ...However, a sustained pickup will prove unlikely given poor prices of iron ore and the introduction of the district mineral fund which will increase costs for domestic miners. Additionally, the glacial pace of project execution along with the inability to pass the land acquisition bill will remain obstacles to infrastructure build-out and India s development of its secondary industries, which will deter foreign direct investment in the coming quarters. In the face of cheap imports of steel and aluminium, India will likely continue to raise imports tariffs. It has raised steel import duties twice in ----, once in June and the other in August. Given that both aluminium and steel capacity has been increasing lately even in the midst of low prices due to global overcapacity, we expect the Indian government to take further protectionist measures.

...BMI View: India s diminishing bauxite surplus combined with the slow pace of new bauxite mines coming online will begin to hinder growth in Indian aluminium production in the medium term. Low aluminium prices will likely result in tariffs being imposed on imported aluminium to support domestic production. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "India Metals Report 2015" Sep 05, 2015. Alacra Store. Apr 26, 2018. <>
Business Monitor International - Industry Reports. (2015). India Metals Report 2015 Sep 05, 2015. New York, NY: Alacra Store. Retrieved Apr 26, 2018 from <>
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