COPPER: Copper futures fell below the $3.55 mark in late October, hovering around their lowest level in a year over concerns of lower demand compounded by rising inventories at the world’s major exchanges. In FY23, India’s domestic production was estimated at half a million tonnes, resulting in a 15% jump in imports to 2,75,341 tonnes. With prices expected to stay benign, margins of input users (energy technologies, electronics, vehicles, and electrical grids) will be far better than those of the domestic producers.

COAL: Rising coal production on the back of increasing power demand has pulled down coal futures to $135 per tonne in 2023, a two-year low. The price of coal was around $400 per tonne at the beginning of the year. Average annual coal prices are predicted to stay lower during the year compared with 2022. While at home, e-auction prices determine Coal India’s profitability, analysts believe the downside is limited as Coal India’s prices are still at a discount to global prices.

WOOL: After hitting its historical all-time high of 2,101 (AUD/100Kg) in September 2018, wool prices have been on the decline. In 2023, prices have come off 188 AUD/100Kg, or 14.17%, since the beginning of January. India being one of the biggest importers of wool owing to insufficient domestic production, weak prices will be a big boost to local apparel and carpet makers.

Follow us on Facebook, Twitter, YouTube & Instagram to never miss an update from Fortune India. To buy a copy, visit Amazon.