India encountered copper delivery problem after government ordered to close plant belonging to Vedanta Ltd. due to protests against environmental pollution, Bloomberg said. Closure of the plant will result in significant reduction of local production and import increase.

Shares of Vedanta lost 6,2% in Mumbai and set at the lowest level since last June. This year shares already slumped by 24% and put Vedanta at the bottom among 10 leaders of India metal sector.

Price for LME copper went up during last year by 22% to $6882 per metric ton.

It is expected that copper consumption in India will almost triple to 2 million tons within next decade. Vedanta produced 48% of all copper volumes totaled to 842961 in 2017-2018.

Until now India was a net exporter of copper. Now it will experience deficit of the metal.