What are the metals that are the most expensive in India?
The metals that India is the cheapest to obtain are ferrous metals and platinum, both of which have a significant market share, with the average cost of gold in India being around $15,000 per tonne.
However, the price of these metals is not the only thing that is the least affordable.
The price of copper, for example, is also low compared to other metals in India.
A copper ingot weighing 25kg (55lb) cost around $1,500, while the copper that is used in a large copper chip is around $4,000.
In a similar vein, non- ferrous minerals, which are used for jewellery, can be pricey.
A kilogram of the yellow copper ore used to make jewellery in India is estimated to cost $2,000 and the same ore is used to manufacture platinum.
The copper used in the chips used to power a Tesla electric car costs around $6,000 a kilo, while platinum used to polish and polish off the car can cost up to $5,000 in a kilogram.
This is also true for other non-metallic metals, such as aluminium, which can cost as much as $10,000 to produce.
In the case of non-fibre metals, the prices of which are estimated to be about $1 million per ton, these are largely due to the lack of demand in India for these metals.
“This is due to many reasons, which we have already discussed in the context of our country’s development,” the department of mines said in a statement.
The ministry added that non-fabricated iron and steel were priced at around $3,000-4,500 per tonnes, with copper at around around $7,000, while steel can be as cheap as $2.50 per ton.
The government, however, did not say what the current pricing for non-metal commodities would be.