{"id":39202,"date":"2022-04-29T19:49:54","date_gmt":"2022-04-29T14:19:54","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ind-ra-base-metals\/"},"modified":"2022-04-29T19:49:54","modified_gmt":"2022-04-29T14:19:54","slug":"biz-ind-ra-base-metals","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ind-ra-base-metals\/","title":{"rendered":"Ind-Ra maintains neutral outlook for domestic base metals sector for FY23"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-202597144\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Apr 29 (PTI) India Ratings and Research (Ind-Ra) on Friday said it has maintained a neutral outlook for the domestic base metals sector for the financial year 2022-23.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3307849888\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Ind-Ra had upgraded its outlook for the sector to stable for 2021-22 fiscal, from negative in 2020-21.<\/p>\n<p> The ratings agency said it &#8220;has maintained a neutral outlook on the base metals sector for FY23. The agency expects highly volatile raw material prices and increasing metal prices to pose threat to the anticipated demand, leading to lower EBITDA per tonne in FY23.&#8221; \t The metal demand and their respective prices rebounded strongly over FY22, led by the stimulus provided by the government, along with the growing geo-political uncertainties and supply chain disruptions.<\/p>\n<p> India&#8217;s copper market continues to be in deficit owing to lower copper production. Hindustan Copper Limited&#8217;s margins have been strong in FY22 due to domestic supply deficit and high LME prices, the agency said. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \t The refined copper demand (ex-China) is likely to be strong in FY23, due to an improvement in the housing market and growing sales of consumer goods such as home appliances and cars.<\/p><div class=\"trade-content_5\" id=\"trade-2415160157\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The agency expects zinc prices to moderate to around USD 3,300\/tonne by FY23 from USD 3,974\/tonne in March 2022, but remain firm with the increased risk of a larger forecast deficit of refined zinc.<\/p>\n<p> &#8220;This is because energy costs could remain high for European smelters with the ongoing Russia-Ukraine war. Ind-Ra expects the zinc concentrate supply to increase in FY23, given growth in mine supply and the net effect of smelter capacity additions and cutbacks,&#8221; the statement said.<\/p>\n<p> The agency also expects the aluminium market to continue to be in deficit on account of smelter cuts in Europe, slower expansion in China and a benign demand outlook.<\/p>\n<p> Ind-Ra further said it expects the ongoing commercial coal mine auctions to improve the domestic coal availability. Although domestic incremental productions are meeting the incremental demand, sustaining the required level of inventory at both power and non-power sectors would require higher growth in production. This can result in an increase in imports. PTI ABI  AJ AJ<\/p>\n<div class=\"trade-after-content\" id=\"trade-4094688586\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 29 (PTI) India Ratings and Research (Ind-Ra) on Friday said it has maintained a neutral outlook for the domestic base metals sector for the financial year 2022-23. Ind-Ra had upgraded its outlook for the sector to stable for 2021-22 fiscal, from negative in 2020-21. The ratings agency said it &#8220;has maintained a [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1698,31],"tags":[],"class_list":["post-39202","post","type-post","status-publish","format-standard","hentry","category-commodities","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ind-Ra maintains neutral outlook for domestic base metals sector for FY23 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ind-ra-base-metals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ind-Ra maintains neutral outlook for domestic base metals sector for FY23\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Apr 29 (PTI) India Ratings and Research (Ind-Ra) on Friday said it has maintained a neutral outlook for the domestic base metals sector for the financial year 2022-23. 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