Chennai, Sept. 17 -- Copper prices in Coimbatore have surged nearly 75 per cent over the past year to around Rs 1,450 per kg from Rs 800-900, putting pressure on the competitiveness of engineering MSMEs in the major industrial cluster.

Copper prices had touched Rs 1,500 per kg earlier this year before moderating slightly. The metal is a key input for industries manufacturing automobile components, electric vehicles, pumps, renewable energy equipment and electronic parts.

Limited Scope To Pass On Cost

V. Rangaswamy, president, Coimbatore District Small Industries Association, said MSMEs could absorb a price increase of less than 10 per cent, but have been able to pass on only around 10-15 per cent of the recent copper cost increase to c...