Our View: Import registration compulsory for several aluminum and copper products

By: Admin

Insignia Consultants

New Delhi

Monday, April 5, 2021 TIME 10:16 AM IST                                  


Our View: Commerce ministry makes import registration compulsory for several aluminum and copper products

  • Scrap imports of copper and aluminum will not reduce.
  • Local recycling of copper/aluminum will rise but will be felt only after a few months.
  • Domestic refiners and MSME’s which convert copper/aluminum scrap into finished products like copper ignots etc will gain.
  • India is now a major exporter of copper ignots among other form of finished base metal products to China. China has a policy to reduce base metals scrap imports (from October 2020) and opt for finished product. This is the reason behind India copying China.
  • Hedging demand in MCX, NSE and other commodities exchange will rise multiple times if this policy is not changed this fiscal.

(full link https://www.moneycontrol.com/news/business/commerce-ministry-makes-import-registration-compulsory-for-several-aluminium-copper-products-6727691.html/amp )

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