• Latest
  • Most Read
Copper, India, Sterlite, China, NGT, Tamil Nadu

Copper is the new oil and India will miss out because Sterlite got shut

2 years ago
No more Bollywood films for Nayanthara?

No more Bollywood films for Nayanthara?

17 hours ago
Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

17 hours ago
No Space for Terrorism: Center’s Strong Media Policy

No Space for Terrorism: Center’s Strong Media Policy

17 hours ago
ASUS to relocate its primary manufacturing hub from China to India

ASUS to relocate its primary manufacturing hub from China to India

21 hours ago
Canada feels the heat as India suspends Visa services

Canada feels the heat as India suspends Visa services

21 hours ago
One post can make you a pariah like Shubhneet Singh aka Shubh!

One post can make you a pariah like Shubhneet Singh aka Shubh!

21 hours ago
Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

23 hours ago
Dear PM Modi, make Adhir Ranjan’s wish come TRUE!

Dear PM Modi, make Adhir Ranjan’s wish come TRUE!

23 hours ago
Trudeau plays the fiddle as Canada burns!

Trudeau plays the fiddle as Canada burns!

24 hours ago
Justin Trudeau, don’t even try!

Justin Trudeau, don’t even try!

24 hours ago
NIA goes out on “war mode” against Canada based fugitives

NIA goes out on “war mode” against Canada based fugitives

2 days ago
Women’s Reservation Bill Passed in Parliament after decades!

Women’s Reservation Bill Passed in Parliament after decades!

2 days ago
Trudeau bites dust in gathering “international support” against India

Trudeau bites dust in gathering “international support” against India

2 days ago
Thank you, Justin Trudeau, Bharat will never forget your contribution!

Thank you, Justin Trudeau, Bharat will never forget your contribution!

2 days ago
Travel advisory: Canada is now as much a threat as Pakistan as per MEA

Travel advisory: Canada is now as much a threat as Pakistan as per MEA

3 days ago
  • About us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI हिन्दी
TFI Global
Saturday, September 23, 2023
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

    Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

    No Space for Terrorism: Center’s Strong Media Policy

    No Space for Terrorism: Center’s Strong Media Policy

    Canada feels the heat as India suspends Visa services

    Canada feels the heat as India suspends Visa services

    One post can make you a pariah like Shubhneet Singh aka Shubh!

    One post can make you a pariah like Shubhneet Singh aka Shubh!

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    ASUS to relocate its primary manufacturing hub from China to India

    ASUS to relocate its primary manufacturing hub from China to India

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Bharat’s job market soars: 5.2 Crore formal jobs, 27% Female

    Bharat’s job market soars: 5.2 Crore formal jobs, 27% Female

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

    Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

    Trudeau plays the fiddle as Canada burns!

    Trudeau plays the fiddle as Canada burns!

    Justin Trudeau, don’t even try!

    Justin Trudeau, don’t even try!

    NIA goes out on “war mode” against Canada based fugitives

    NIA goes out on “war mode” against Canada based fugitives

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    When BR Ambedkar openly challenged the Nizam Shahi

    When BR Ambedkar openly challenged the Nizam Shahi

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    Hope Cooke: How an American lady almost snatched our Sikkim from us

    Hope Cooke: How an American lady almost snatched our Sikkim from us

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    No more Bollywood films for Nayanthara?

    No more Bollywood films for Nayanthara?

    Online BlackJack India

    How to Play Blackjack Online from India with Real Money

    Zoey Deutch films to watch

    Discover the Magic: 10 Must Watch Films of Zoey Deutch

    Mushroom Soup health benefits

    Discover the Nutritional Wonders: 9 Health Benefits of Mushroom Soup

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

    Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

    No Space for Terrorism: Center’s Strong Media Policy

    No Space for Terrorism: Center’s Strong Media Policy

    Canada feels the heat as India suspends Visa services

    Canada feels the heat as India suspends Visa services

    One post can make you a pariah like Shubhneet Singh aka Shubh!

    One post can make you a pariah like Shubhneet Singh aka Shubh!

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    ASUS to relocate its primary manufacturing hub from China to India

    ASUS to relocate its primary manufacturing hub from China to India

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    US Business Basics: Essential Legal and Regulatory Insights for Indian Founders

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Why IKEAs and Urban Ladders could not replace the friendly neighbourhood carpenter

    Bharat’s job market soars: 5.2 Crore formal jobs, 27% Female

    Bharat’s job market soars: 5.2 Crore formal jobs, 27% Female

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    new CBI director Praveen sood biography

    Who is Praveen Sood the New CBI Director: Professional Background, Achievements and Significance of the Appointment

    Paramjit Singh Panjwar shot dead

    Paramjit Singh Panjwar shot dead: Keep calm and trust the Indian Armed Forces

    Swarm satellites

    India’s Bold Step towards Satellite Swarm Intelligence: A New Era in Space Technology

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    INS Vikrant gets historic 1961 bell of 1st warship from ex-Navy vice chief

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

    Congress and Bhindranwale Exposed: R&AW Whistleblower Tells All

    Trudeau plays the fiddle as Canada burns!

    Trudeau plays the fiddle as Canada burns!

    Justin Trudeau, don’t even try!

    Justin Trudeau, don’t even try!

    NIA goes out on “war mode” against Canada based fugitives

    NIA goes out on “war mode” against Canada based fugitives

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    NAVIGATING THE CCNA EXAM: A BEGINNER’S HANDBOOK TO IT CERTIFICATION

    When BR Ambedkar openly challenged the Nizam Shahi

    When BR Ambedkar openly challenged the Nizam Shahi

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    From Nizam Shahi to India’s Defender: Lt. Col. Tarapore’s Incredible Story

    Hope Cooke: How an American lady almost snatched our Sikkim from us

    Hope Cooke: How an American lady almost snatched our Sikkim from us

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    No more Bollywood films for Nayanthara?

    No more Bollywood films for Nayanthara?

    Online BlackJack India

    How to Play Blackjack Online from India with Real Money

    Zoey Deutch films to watch

    Discover the Magic: 10 Must Watch Films of Zoey Deutch

    Mushroom Soup health benefits

    Discover the Nutritional Wonders: 9 Health Benefits of Mushroom Soup

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
No Result
View All Result

HOME » Politics » Trending » Copper is the new oil and India will miss out because Sterlite got shut

Copper is the new oil and India will miss out because Sterlite got shut

TFIPOST News Desk
by TFIPOST News Desk
8 May 2021
in Trending
0
Copper, India, Sterlite, China, NGT, Tamil Nadu
993
VIEWS
Share on FacebookShare on Twitter

In the last few months, the demand for copper has gone up exponentially, and this has led to a huge surge in prices. As per a note by Bank of America, the prices of copper are expected to double to 20,000 dollars per metric ton by 2025 from the recent high of 10,000 dollars per metric ton. According to Michal Widmer, commodity strategist at Bank of America, the world risks running out of copper very soon and the commodity has ‘the new oil’.

India could have proved to be a big benefitter from the surge in international prices, but the Sterlite plant, that used to account for 40 percent of India’s total production, was shut down almost 3 years ago due to protest from anti-national elements that included China paid environmentalist and Church groups.

Copper, India, Sterlite, China, NGT, Tamil Nadu

After the Sterlite plant was shut down facing a series of protests, India, a net exporter of copper in the last two decades turned into a net importer in FY 2018-19. The Tuticorin plant accounted for more than 40 per cent of the country’s total copper production, and ever since the plant was shut down, the domestic downstream manufacturers were forced to import copper from countries like Japan and China.

From 2013-14 to 2017-18, copper production in India grew at double-digit (9.6 per cent) and suddenly the output fell by 46 per cent in FY 19. The sudden closure of the Sterlite plant halted production of 4 lakh tonnes of copper, as the company accounted for 40 per cent of the country’s copper smelting capacity. The total copper smelting capacity of the country is around 10 lakh tonnes.

The total import of copper reached 14,000 crore rupees in the last fiscal year and countries like Japan, Singapore, Congo, Chile, Tanzania, the United Arab Emirates, and South Africa benefited from this. Imports rose by 131.2 per cent while the export of copper cathodes fell by 87.4 per cent, from 395-kilo tonnes in FY 18 to 48 KT in FY 19. In the last FY, exports grew by 12.3 per cent while imports grew by 35.6 per cent.

The majority of India’s copper export goes to China (75 per cent) and Taiwan (13 per cent). The closure of Sterlite’s plant benefitted Chinese companies which were facing tough competition from Indian exports. Given the better quality of Indian products, Chinese consumers preferred Indian copper, and this harmed the interest of Chinese companies.

After the protests, the Tamil Nadu government had ordered the complete closure of the plant in May 2018. But the National Green Tribunal (NGT) cleared the reopening of the plant a few months back. However, the Supreme Court overruled the NGT order, and the plant remains non-operational ever since. The matter is sub-judice and the case is pending in Madras High Court.

Read More: How Harish Salve played a massive role in reopening the Sterlite Copper plant despite opposition

In Tamil Nadu, DMK and AIADMK, the opposition and the ruling party respectively, took a stand against the Sterlite copper plant. And this has led to India becoming a net importer of copper and the loss of crucial oxygen production during the pandemic.

Had the Dravidian parties not given up to the pressure of Naxal elements, church mafia, and anti-national protesters who were doing it on behalf of China, the state of Tamil Nadu was set to be the biggest benefactor of rising copper prices. However, the country is forced to import copper at a time when its price is skyrocketing, thanks to successful protest from anti-national elements.

Tags: ChinacopperIndiaNGTSterliteTamil Nadu
Share135TweetSend
Previous Post

Delhi Police busts massive oxygen concentrator scam in Khan Market

Next Post

Massive oxygen cylinder scam emerges in Patna Medical College and Hospital

TFIPOST News Desk

TFIPOST News Desk

India’s most loved Right-Wing blog

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Most Read
  • Comments
  • Latest
Xi Jinping, coronavirus, Shinzo Abe, china, Japan, coornavirus, COVID-19, Wuhan Virus

‘Pack up and get out of there,’ Japan to spend $2.2 billion to get Japanese companies to exit China

9 April 2020
ajay devgn karan johar

The man who bullied the Bully – How Ajay Devgn made Karan Johar’s monopoly a joke and forced him to apologize

22 June 2020
Huawei, China, Trump, USA, Xi Jinping

‘Our survival is at stake now,’ Chinese Telecom giant Huawei crumbles after US ban on Semiconductor exports

19 May 2020
T-Series Sonu Nigam Divya Khosla Kumar Bhushan Kumar

T-Series forced to take down Atif Aslam’s video, Divya Khosla trolled. T-Series has a bad day in office

25 June 2020
Meat Ban

A Jain responds to Meat Ban in Mumbai

Public Sector Bank, Government, Bill

Dear bank employees, continue your stride but PSBs will be privatized

anti-Hindi

Anti-Hindi Forever?- In search of a National Language!

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

Dear Liberals – your Beef Parties are not protests, they just intend to displease the Majority

No more Bollywood films for Nayanthara?

No more Bollywood films for Nayanthara?

22 September 2023
Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

Hardeep Singh Nijjar was in regular contact with Canadian intelligence!

22 September 2023
No Space for Terrorism: Center’s Strong Media Policy

No Space for Terrorism: Center’s Strong Media Policy

22 September 2023
ASUS to relocate its primary manufacturing hub from China to India

ASUS to relocate its primary manufacturing hub from China to India

22 September 2023

Popular This Week

Jawan Box office collection: Why SRK’s releases are not “Genuine Success”?
Cinema

Jawan Box office collection: Why SRK’s releases are not “Genuine Success”?

by Animesh Pandey
15 September 2023
Nana Patekar steamrolls Bollywood and their hypocrisy
Cinema

Nana Patekar steamrolls Bollywood and their hypocrisy

by Animesh Pandey
15 September 2023
Trudeau writes his political and economic epitaph by withholding the India FTA
Geopolitics

Trudeau writes his political and economic epitaph by withholding the India FTA

by Animesh Pandey
19 September 2023
Sanjay Khan
Cinema

Sanjay Khan – The lecherous demon behind the “handsome gentleman”

by Tejasvi Malhotra
13 November 2022
Kiran Rao’s fear is quite real, and it’s much needed!
Cinema

Kiran Rao’s fear is quite real, and it’s much needed!

by Animesh Pandey
20 September 2023

©2023 TFI Media Private Limited

  • Terms of use
  • Privacy Policy
  • Sitemap
No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFI Official Merchandise
TFI हिन्दी
TFI Global
  • About us
  • Careers
  • Brand Partnerships

©2023 TFI Media Private Limited

Follow us on Twitter

and never miss an insightful take by the TFIPOST team

Follow @tfipost