Icra forecasts steady 10% growth in non-ferrous metal demand
In a recent statement, Icra highlighted that domestic demand for non-ferrous metals is likely to maintain a growth rate of 10% in FY25.
Source: Pexels
Despite an expected softening of demand over the next two quarters, Icra remains confident that overall demand growth will remain stable in both FY24 and FY25.
Source: Pexels
Icra also anticipates that the operating margins of domestic players in the non-ferrous metals sector will remain steady at 17–17.5% in FY25.
Source: Pexels
Furthermore, Icra noted recent market trends, highlighting that domestic e-auction premiums on coal had eased to 40% in February 2024.