The primary metals that are an essential part of the commodities market not only in India, but the world over are:
Given here is the current market scenario for each of the aforementioned metals.
In the world, presently India is the estimated to be the fifth largest producer of aluminum. According to experts the country produces approximately 3037 Million tons of this metal. It is stated that in spite of the current rate of consumption, the country has enough reserves of aluminum to last over 350 years. This makes India self-sufficient as far as demand and supply of the metal is concerned. And much to it’s credit the country annually exports an average of 82,000 tons, whereas the domestic consumption barely crosses about 6.18 Lakh tons, presently.
India is estimated to produce approximately 4 Lakh tons of copper, which is said to amount to 3 per cent of the world’s copper produce. In fact, according to the experts the country is leading towards becoming an exporter, from being an importer of this metal.
The lead production in the country is estimated to be up to the tune of about 82,000 tons. However, this is mainly from its secondary sources. The demand for lead in India is to the tune of approximately 150,000 tons. The main reason for a limitation on the lead production in the country is the fact that there is a relative scarcity of lead ore reserves. And this gap between domestic supply and demand calls for large-scale import and recycling of this metal. India imports its lead supply from China, Korea and Australia.
Nickel is one of the essential metals required for the following industries:
-Automobile components and spare parts
In the last couple of years India has found a prominent place in the global output of sponge iron. Presently it is said to account for 16 per cent of the world’s produce. The country is said to produce around 8 Million tons, annually.
According to experts, India produces approximately 36 Million tons of steel, annually, placing the nation as the eighth largest steel producer in the world. This exceeds the domestic consumption that is estimated to be 30 million tons, per year. This has made India a net exporter of the metal.
India produces approximately 10 tons of tin, per year. This is a very small amount, considering that it requires a minimum of 4000 tons of tin and its alloys, which it imports.
The zinc producing industry is expected to take India to the self-sufficiency level by the year 2010. This would largely be possible as a result of the privatization of the zinc producing industry.