Insignia Consultants | Our View: Import registration compulsory for several aluminum and copper products
Our View: Import registration compulsory for several aluminum and copper products
Insignia Consultants
New Delhi
Monday, April 5, 2021 TIME 10:16 AM IST
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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.
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