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India

One of the big moves here has been the 40-basis-points increase in the repo rate by the Reserve Bank of India, thus raising costs to end consumers of automotive, houses, etc. It was already proving to be a sluggish four to five weeks as immediate demand has tapered off, mainly on account of global sentiment.

Exports of die-casting grade aluminium ingots, brass billets/ingots and copper ingots have slowed, largely due to COVID controls imposed in China. The weak yen and low demand in Japan have also been a dampener for many here.

Over the next year, several new non-ferrous recycling plants are scheduled to emerge in India for the production and subsequent export of intermediate products. As we push ourselves into the global supply chain, it is important that the world market remains healthy, allowing these plants to do well.  

The recent Material Recycling Association of India conference attracted an attendance of over 1500 and produced some very optimistic discussions. It would appear that India’s recycling industry is set to propel itself into an even higher orbit over the next seven or eight years.