The Indian metal industry is poised for increased profitability in the next year due to increasing global demand. | This in turn is expected to translate into improved margins. According to a study done by Crisil Ratings, the global steel and non-ferrous metals sector will witness high operating rates and existing price trend will continue in the medium term. |
| While the domestic steel industry is expected to grow by around 6-7 per cent, other base metals zinc and aluminium are set for a annual growth of 5 per cent. The copper industry, for which there is a high demand from China, is targetting a growth of around 3-4 per cent. |
| Although China will continue to fuel the global metal demand, the recovery of the US economy and other upcoming markets in Europe will also boost the industry, a senior Crisil analyst said. |
| The Crisil study also expects a substantial rise in global zinc and copper prices but has maintained a conservative outlook for aluminium prices in the coming months. |
| However, reduction in existing import duty will impact steel and non-ferrous metal manufacturers. |
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