ICRA Forecasts 10% Growth in Non-Ferrous Metals Demand for FY202

12 Jun 2024 CW Team

ICRA, a leading credit rating agency, has projected a significant uptick of 10% in the domestic demand for non-ferrous metals during the fiscal year 2025. This growth outlook is underpinned by anticipated recoveries across industrial sectors and increased investments in infrastructure projects nationwide.

The forecasted increase in demand comes amid recovery phases observed in various industries, including automotive, construction, and electrical equipment manufacturing, which are major consumers of non-ferrous metals like aluminium, copper, and zinc. These metals are essential for their lightweight, corrosion resistance, and conductivity properties, making them integral to modern manufacturing processes.

According to ICRA analysts, government initiatives aimed at boosting infrastructure spending, coupled with a rebound in industrial activity, are expected to drive the demand surge. The emphasis on infrastructure projects such as roads, bridges, and renewable energy installations further supports this growth trajectory for non-ferrous metals.

However, challenges such as global supply chain disruptions and fluctuating raw material prices may impact the sector's growth momentum. Mitigating these risks while capitalizing on domestic demand growth remains critical for sustaining the positive outlook in the non-ferrous metals market.

In conclusion, ICRA's optimistic forecast of a 10% increase in domestic non-ferrous metals demand for FY2025 reflects renewed industrial confidence and infrastructure investments, positioning the sector for robust growth amidst evolving economic dynamics.

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