UltraTech Enters Wires and Cables Market Amid Copper Price Surge
Copper prices have reached an all-time high of $14,533 per metric ton, putting pressure on India's wires and cables industry. Established manufacturers are facing higher input costs that must be passed on to customers, and the entry of UltraTech's Ultravolt business is creating uncertainty in the market.
UltraTech has begun commercial production at its Jhagadia facility in Gujarat with an installed capacity of about 1.1 million kilometres. The company plans to distribute products across more than 500 districts and 6,000 pin codes, targeting over 100,000 retailers. UltraTech aims to become one of the top two wires and cables players within five years.
Indian companies such as Polycab India and RR Kabel have already begun responding to the rise in copper prices by increasing their prices. However, brokerages are questioning whether demand will absorb these increases without slowing volume growth. The industry is closely linked to housing, construction, electrification, renewable energy, and industrial investment.