Indian metal sector is classified as ferrous and non-ferrous. The ferrous sector consists of iron ore, steel and steel products, while non ferrous consists of copper, aluminium, zinc, tin, lead and other rare metals. The industry can be further classified into primary producer and secondary producers on account manufacturing metal from ores are from metal scrap.
With promise of high GDP growth, the metal sector which is closely linked with is also likely to follow suit. The GDP growth will drive demand in domestic sector for various base metals like steel, aluminium and copper.
The key industry is the mining sector of iron ore, which had faced issues over scams, closure of mines on account of court orders, decline in capacity utilization of steel mills on account of want of raw material had a huge impact in the year 2014. With subdued demand in other core sectors like automotive, construction and consumer durables, the metal sector had grown just around 2% in steel and 4% in non-ferrous metals.