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Telecom, Power last hope for non-ferrous metal sector
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NSTL
The domestic non ferrous metals sector is mainly hoping to receive a boost from growth in two major sectors telecom and power, the main consumers for both copper and aluminium products. Any good news from these fronts would add to the already good fortunes that the industry is anticipating indicated by the Index of Industrial production (IIP) which reveals a growth of 5.5 per cent during April -May 2002 in the mining sector as against 1.4 per cent growth in the same period last year. Between January to May 2002, the domestic copper sector saw the highest level of growth in production at 115 per cent to 1,42,054ton as against 66,003 ton last year. Then aluminium grew modestly by 13 per cent to 2,83,970 ton as against 2,50,656 ton last year. Zinc witnessed a moderate growth of six per cent to 88,488 ton over 83,873 ton last year. Lead saw a negative growth of around nine per cent to 14,817 ton against 16,367 ton last year. In the international markets, there was a mere 1-2 per cent in production of aluminium, copper, lead and zinc. As a result of poor offtake by the manufacturing industry these markets face a situation of rising inventory and over capacity, shut downs, industrial turmoils.
NSTL
