Struggling before lockdown, copper manufacturers stare at meltdown

The anticipated economic slump is likely to weaken their prospects

Well before the first Covid-19 case was detected in Kerala on January 30, the 968,500-tonne Indian re­fined copper industry came under significant pressure caused by shrinking requisition of the red metal by most user segments. The aluminium-to-co­pper group Hindalco Industries says in the third quarter (October to December) of the 2019-20 financial year, domestic copper demand was up just 2 per cent to 193,000 tonnes from 189,000 tonnes in the same period of the previous year. Also worrying for local producers who find their share of the domestic market whittled down by imports was that sales during October to December