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

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 )

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading.Website www.insigniaconsultants.in. Prepared by Chintan Karnani Customer Care: 9311139549