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Vedanta says Indian copper smelter shutdown causing deficit, price rise

Reuters  |  NEW DELHI 

NEW DELHI (Reuters) - Vedanta Resources Plc's shutdown of its South Indian copper smelter, one of India's biggest, is causing a copper deficit and increased prices in India, its subsidiary Vedanta Ltd said on Friday.The smelter, located in a sleepy port city near the tip of the Indian peninsula, has a share of about 35 percent in the India's primary copper market and exports mainly to Gulf and Asian countries, Vedanta said. The unit has been shut for more than 50 days."Due to non-availability of our production, there is a deficit of copper supply in the country impacting prices and ...

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First Published: Fri, May 18 2018. 20:37 IST
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