Recently published research from Business Monitor International, "India Metals Report Q3 2013", is now available at Fast Market Research

Boston, MA -- (SBWire) -- 08/12/2013 --Growing Affluence To Drive Consumption

BMI View: We expect India to become a major consumer of metals over the coming years as the government makes pertinent efforts to remove bottlenecks that are delaying infrastructure projects in the country. Furthermore, the growing affluence of Indian consumers will spur spending on housing and white goods, making India the key driver in steel demand after China in the years ahead.

We expect India to become a major consumer of metals over the coming years as the government makes pertinent efforts to remove bottlenecks that are delaying infrastructure projects in the country. The growing affluence of Indian consumers will spur spending on housing and white goods, making India the key driver in steel demand after China in the years ahead. Although the ongoing ban on iron ore mining in Goa and Karnataka will affect domestic steelmakers by constricting raw materials supply, we believe this is unlikely to have a considerable impact on steel production. We expect an increasing number of Indian steel companies to import iron ore from countries such as Australia and China, where a large number of iron ore projects are expected to come on stream in H213.

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We expect the majority of aluminium production growth to come from Vedanta, which is currently working to expand its aluminium smelting capacity from 1.6mntpa (million tonnes per annum) to 2.5mntpa by 2013. Although production growth will slow, we believe aluminium output will continue to be supported by a string of new projects on the horizon.

In terms of refined zinc, we expect production in India to head towards a period of slowing growth over our forecast period. In contrast, the increasing use of galvanized steel amid growth in the construction sector will drive zinc consumption higher, increasing at an annual average rate of 6.4%.

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