Falling aluminium and copper prices may lead KEI Industries to reduce its price
The Chairman of KEI Industries, Anil Gupta stated that the company has already implemented some price cuts in Q1FY23, and with copper and aluminium prices down 20%-30% Q-o-Q, it may further cut prices in the near future.
KEI Industries, the market leader in the manufacturing of wires and cables in India with a vision to become the world largest is one of the preferred suppliers for private and public sector clients globally.
Cables and wires prices are updated every 15 days in the B2C segment. It has been reported that cable and wire companies have cut prices by 8-9 per cent in the past few weeks.
Inventory destocking usually occurs more quickly when prices fall. In Q1FY23, the KEI management stated that there was significant interest from both the B2B and institutional segments. However, buying patterns for dealers declined by 10-15% over the previous year. The B2B segment and institutional buyers showed significant interest in Q1FY23, despite this.
The Chairman added, “In terms of export outlook the company doesn’t see much slowdown in global demand. Exports focusing on solar and oil & gas projects and infra projects are showing strong demand.”
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