Margin pressure, global factors to impact copper industry's financials

LME copper prices started declining and have remained suppressed ever since the US-China trade war began

The overall financials of the domestic copper industry may take a hit owing to margin pressure and a subdued global outlook.

According to a report by 'Care Ratings', the dip in domestic production, largely due to the permanent closure of Vedanta's copper smelter plant in Thoothukkudi, will force India to remain a net importer of copper while the global copper prices will remain suppressed, and in the range of $ 5,500-5,900/tonne, until a constructive trade deal is reached between the US and China.

Cumulative sales revenue of India's copper industry has declined by 6.6 per cent during the period from