Prices of ACs, coolers, TVs, fridge LIKELY to RISE - This is the reason
The summer season is on in various parts of the country and so are air conditioners and coolers in the households. And, the prices for electronic items like AC, TV, fridge, coolers may rise in India. The reason behind this is the strong rise in the prices of copper.
Prices of AC, coolers: The summer season is on in various parts of the country and so are air conditioners and coolers in the households. And, the prices for electronic items like AC, TV, fridge, coolers may rise in India. The reason behind this is the strong rise in the prices of copper.
See Zee Business Live TV Streaming Below:
Now, people may be thinking that how come the prices of copper impact the prices of electronics. According to a DNA report, 65 per cent of copper is used in making electrical equipment, 25 per cent in construction work, 7 per cent in transport work and 3 per cent in other sectors. In such a situation, if the price of copper goes up, electronic items can also become expensive.
Amidst this scenario, the question that naturally emerges is that why the prices of copper are going up. The reason here too is COVID-19. The DNA report suggests that industrial production has increased, soon after the lockdown and as a result of this copper has been used in large scale and the demand for copper is continuously on the rise. However, the production of copper is limited due to which the prices of copper has started to rise.
It has to be noted that the experts have been made this claim about the rise in the prices of electronics after a study on the Chinese market. The study revealed that the consumption of copper has increased as soon as the lockdown opened in China. But due to the limited supply, there has been a jump in the prices of copper. India is moving fast towards unlocking. Therefore, experts have warned about the situation here as well.
Copper is most commonly used in electronic items like water motors, air conditioners, coolers, mixer grinders, wiring, heating elements, motors, internet lines. The demand of electronic items like air conditioners, coolers, refrigerators increase in summer a lot, so all these things can be expensive. In such a situation, it is advisable that if one is thinking of buying these items, it is a good time to buy them now.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.