Deloitte and ICC’s India Minerals and Metals Forum 2012
Ferrous & Non Ferrous
Minerals and Metals sector have always been in the forefront of a nation's economy and India is no exception.
Both ferrous and non ferrous metals are equally important towards building up the country's future. Ferrous metals are definitely more in use in India, but at the same time non ferrous metals are also gradually taking the centre stage and the time is not far when it will be regarded as the future of the The steel industry is considered to be an indicator of economic progress, because of the critical role played by steel in infrastructural and overall economic development. India has one of the richest reserves of all the raw materials required for the steel industry, namely land, capital, cheap labour, iron ore, power, coal etc. Yet we stand 5th in the world ranking for steel production. India produced 66.8 million tonnes in 2010-11, while China, at the top of the list, produced 626.7 million tonnes. For steelmakers, a major cause of volatility is the cost of raw materials, which has been exacerbated by the change from annual to shorter-term price contracts. Shortages in supply have enabled suppliers of iron ore and metallurgical coal to re-engineer the pricing mechanisms. However, this has created challenges for steel producers. They now have to deal not only with the increased volatility in raw material prices, but also with how to maintain margins with fluctuating demand. This development is significantly affecting the earnings of the steel industry.
India's non-ferrous metal industry, mainly consisting of aluminium, copper, lead and zinc has traveled a long way from where it was a decade ago. In the next decade i.e. towards the end of 2020, the industry is expected to see a dramatic turnaround with lots of expansion plans would be running at full capacity. The country is heading towards becoming a global player in non ferrous metal industry with most of production plants would be tapping potentials in the foreign markets.
Currently, India is exporting huge quantity of aluminium, while a minute share of its copper consumption is being imported today because of the lack of copper concentrate reserves. Lead which is a byproduct of zinc majorly is being imported. The Indian zinc industry entered its transformation phase with the privatisation of the largest zinc producers. The domestic zinc industry is now completely under the private sector and is in the midst of a serious expansion programme.
India's vision for 2020, besides being a global player in terms of size, should also aim at achieving international standards in terms of consumption.
In this context, Indian Chamber of Commerce to further strengthen its support amongst industry representatives and policy-makers presents the India Minerals and Metals Forum 2012 during 11th July 2012 at New Delhi. It is jointly being held along with the Ministry of Steel, Coal and Mines, Government of India and Deloitte Touche Tohmatsu India Pvt Ltd. is the Knowledge Partner of this initiative. This platform will bring together various stakeholders to discuss, share and evolve suitable strategies and development models.