Copper demand to double in India

Mumbai, Jun 14 (UNI) The demand for copper in India is likely to be doubled in next five years and the export of copper would be affected due to the increase in domestic demand.

''India produces about 1 million tonne of copper per annum, of which 0.5 million tonne is used in domestic markets and the rest is exported. By the end of the year 2012 the demand in the domestic market's likely to increase upto 1 million tonne, which will reduce the scope for exports,'' Sterlite Industries CEO Kishore Kumar said here today at the 'India Copper Forum 2007'.

The International Copper Promotion Council (India) Chairman Peter Chalton said the global demand of copper in FY06 is 22.3 mn tonne and has grown by 3 per cent in the previous year.

The demand growth rate in Asia was higher than the global growth rates. In the first quarter this year, we see strong growth driven by Chinese imports, said Mr Peter.

''We must ensure that as we build the generating capacity and the distribution systems, we must use the latest energy efficiency technologies to maximise the power availability. Copper is the most efficient metal as it is a long term conductor of electrical energy,'' he emphasised.

UNI