Page 2 - Copper Demand News Today

India Business News: Copper demand in India is expected to reach 1,522 KT in 2023, according to a study by the International Copper Association India. This surge in demand

India has witnessed a remarkable surge in copper demand, with a substantial increase of 16 percent, reaching 15.22 lakh tonnes in 2023, as compared to 13.11 lakh tonnes in the preceding year. These compelling statistics have been unveiled in the Copper Demand Study in India (FY23), released by the International Copper Association India (ICA India) on Friday.

Copper prices continue to trade sideways within a tight range. Amid a lack of bullish or bearish momentum, prices have failed to establish a breakout.

Copper prices are stuck in a sideways trend, even as inventories triple, with challenges from the EV sector and correlations with steel scrap prices hinting at the metals future.

The strong ramp-up in sales for EVs, led by growth in China, means copper demand will continue to grow for the remainder of the decade, but innovation in EVs has emerged as a limiting factor, according to two recent forecasts.

KGL report looks at copper demand

This tightness in supply has been further accentuated by inventories reaching below 60,000 tonnes on the London Metal Exchange (LME), the lowest level seen since 2005.

KMET is positioned to capture rapidly rising demand in the six key electrification metals such as nickel and copper in the next 15 years.

New Delhi [India], January 24 (ANI/NewsVoir): Propelled by strong policy reforms across sectors, the post-pandemic demand for copper is back on growth track in FY22 (April 2021 to Mar 2022), registering a YoY growth of over 27.5 per cent in India

The demand for red metal rose on the back of the growth across power infrastructure, real estate, consumer durables, and industrial sector in the countr