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Sterlite’s Indian Smelter Closure Could Drive up Copper Premiums
Apr. 12, 2013 07:30AM PST
Base Metals Investing Reuters reported that Sterlite’s copper smelter, the largest in India, will remain closed until at least April 29th, pending a response from a court that shut the plant down over complaints of toxic emissions, bringing forth the possibility of increased copper premiums in
Reuters reported that Sterlite’s copper smelter, the largest in India, will remain closed until at least April 29th, pending a response from a court that shut the plant down over complaints of toxic emissions, bringing forth the possibility of increased copper premiums in Asia.
As quoted in the market report:
The month-long closure of the plant could further drive up premiums for copper in Asia, but traders and analysts said there may be enough stocks to meet demand in India for about a month.
