A recovery in Asian demand and supply constraints in the global market has sparked an increase in price of commodities like copper, pushing manufacturers to increase cost of low-voltage electrical equipment. Electrical equipment such as circuit breakers, switching and control and metering products are used extensively in industrial, commercial and residential segments, with a significant chunk used in the power sector.
While Sterlite Industries is in the process of reopening its copper smelter in Tamil Nadu following the verdict of National Green Tribunal (NGT), some reports indicate that a local authority appealed against the judgement in the Supreme Court. The tribunal allowed the firm to reopen the smelter under the monitoring of a court-appointed panel. The smelter, which produces more than half of India's total refined copper, remained shut for around two
D Dhanavel, General Manager of projects at Sterlite Industries (India) informed that the firm exercised force majeure on purchases of copper concentrates, the base material used by the plant. The company took this move following the recent closure of its smelter plant in Tamil Nadu after complaints of a gas leak