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Non-ferrous metals, which are typically more expensive than ferrous metals, are utilized because they have desired qualities like low weight, high conductivity, non-magnetic characteristics, or corrosion resistance.
The iron and steel industries also use a few non-ferrous materials. For instance, wolframite, pyrolusite, and chromite are used to create ferrous alloys, whereas bauxite is utilized as flux for blast furnaces.
Aluminum, copper, lead, tin, titanium, and zinc, as well as alloys like brass, are significant non-ferrous metals.
Non-ferrous materials include unusual or uncommon metals including mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium as well as precious metals like gold, silver, and platinum. Typically, sulfides, carbonates, and silicate minerals are used to obtain them.
The Global Non-Ferrous Metals market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
The London Metal Exchange is the primary global marketplace for industrial metals. Marketplaces host the vast majority of non-ferrous on-exchange transactions. Prices found for physically settled non-ferrous contracts serve as a global benchmark and foundation for physical trading, as well as for portfolio valuation, the creation of commodities indices, and the creation of metal exchange-traded funds (ETFs).
The physical non-ferrous contracts of the LME are created by the industry and for the industry, and this distinguishes the LME from other exchanges. The non-ferrous contracts’ distinctive settlement-date structure and emphasis on the physical market are two things we take great satisfaction in.
Market participants can use the LME’s non-ferrous contracts to transfer or take on risk against metal prices daily out to 3 months, and monthly out to anything up to 123 months. These contracts were created to reflect the nature and timing of bilaterally negotiated metal trades.
The LME offers participants in the non-ferrous market an unrivaled chance to transfer and assume risk through a reliable and universal reference price, flexible prompt-date structure, and big lot sizes (that reflect industrial consumption).
The non-ferrous metals sector in India has performed significantly better than the overall trend. The major end use markets for these metals have expanded steadily during the last five years, albeit more slowly than in the previous ten years.
The development of the non-ferrous metals industry is given a major boost by India’s vast stocks of raw materials, broad market base, and comparatively low cost of production. This has resulted in a robust increase in production that is sufficient to meet domestic demand and is becoming increasingly significant in the export market as well.
However, certain metals, particularly downstream products like copper wire and aluminium foils, are characterised by import due to a variety of factors, including a relatively underdeveloped downstream industry, international competition, the availability of quality products, etc., and this calls for development in that direction.
In contrast to the trend seen in the previous five years, which saw moderation due to the slowdown in the economy, the non-ferrous metals industry in India is anticipated to exhibit robust growth in the future.
The end-use industries for non-ferrous metals, including automotive, electrical, packaging, consumer durables, automotive railroads, ports and inland waterways, roads, and renewable energy, are anticipated to see a robust development trajectory thanks to a number of government changes.
The emphasis has shifted to recycling metals due to a growing concern for environmental protection and sustainable development. The amount of recycling used in the manufacture of all metals has grown dramatically over time and is currently nearly equal to the global average. But imported scrap makes up the vast majority of the material utilised in recycling. An enormous amount of scrap is produced in India due to its large population.
To encourage organised scrap collection and segregation in India, there is a need to create an ecosystem for scrap recycling with the necessary regulations and policies. Additionally, these metals are being used more frequently in already existing industries and are also being investigated for numerous fresh uses.
Focused efforts should be made to advance the domestic downstream and recycling industries in terms of technology, manufacturing quality, infrastructure development, and the reduction of unauthorised imports while fostering exports.
