Metals Harden Up On Demand Jazz

Metal prices are on the roll driven by market speculation and revival in demand for raw material mainly in China, the US and Europe. The trend, which started around a year-and-a-half ago in metals like steel and aluminium, has now spilled over to base metals like copper and brass. Global trends are causing an adverse impact on India where, despite lower production costs, buyers are paying a higher import parity price. “In the last six months, steel prices in particular have spiralled side by side with aluminium, copper and brass,” says Mahesh Desai, Chairman of the Engineering Export Promotion Council of India. Most metals have seen over 50 per cent hike in input costs, while the rise was almost 70 per cent in steelmaking, over the last six months. The spike has been more since April in some metals. A report compiled by International Banker states that commodities have been...