Commodities Buzz: Vedanta Indian copper smelter shutdown Causes Deficit

Vedanta Resources Plcs shutdown of its South Indian copper smelter, one of Indias 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 Indias primary copper market and exports mainly to Gulf and Asian countries, Vedanta said. The unit has been shut for more than 50 days.

n++Due to non-availability of our production, there is a deficit of copper supply in the country impacting prices and availability,n++ Vedanta Ltd said in a statement on Friday. The plant, which can produce 400,000 tonnes of copper a year, will remain shut until at least June 6 as the local pollution regulator will not allow it to operate due to alleged non-compliance with environmental rules..