Hindustan Copper Ltd (HCL) is looking to get into the production of value-added products to shield itself from volatility in copper prices. Copper prices have firmed up in the international markets and are currently ruling at $6,500 a tonne.
“There is a huge demand for copper-nickel tubes used in naval fighter ships, submarines, etc. These are currently being imported. There is a huge potential,”
Kailash Dhar Diwan – HCL CEO
The average price of copper in the same period last year was $5,200 a tonne. According to Kailash Dhar Diwan, Chairman and Managing Director, HCL, the company plans to get into a joint venture agreement with Mishra Dhatu Nigam Limited (MIDHANI), a central public sector enterprise under the Ministry of Defence, for production of copper-nickel tubes. It has already signed an MoU with MIDHANI. “There is a huge demand for copper-nickel tubesContinue reading