India’s copper consumption is set to more than double over next decade says expert.
The prediction comes from J.C. Laddha, Chief Executive Officer of Birla Copper, one of the country’s top copper smelters.
Speaking at the Asia Copper Conference in Shanghai in November, Mr Laddha was quoted in the media as saying the rising demand for refined copper would come from the power, auto and consumer sectors.
His projection did not include the boost copper is expected to receive from a boom in copper-intensive electric vehicles.
“If you add that, I think by 2026 the total consumption would be 2.5 million tonnes,” Mr Laddha was quoted as saying.
“India’s demand for overall copper has risen rapidly over the years and is expected to rise further as a result of various projects like ‘Make in India’ and infrastructure investment.”
Mr Laddha said India’s refined copper production will shrink to 450,000 tonnes in 2019, versus demand of 700,000 tonnes.
Birla Copper: http://www.birlacopper.com