India’s Adani copper smelter runs far below capacity due to global supply shortages, despite imports from major miners.

India’s $1.2 billion Kutch Copper smelter in Gujarat, operated by the Adani Group, is running well below capacity due to a global copper concentrate shortage, having imported just 147,000 tons between June and October—less than 10% of the annual requirement. Mine disruptions at major producers and increased Chinese smelting capacity have tightened supply, while the plant faces higher costs and delayed profitability. Though it has received small shipments from BHP, Glencore, and Hudbay, supply remains insufficient. Analysts suggest India may consider tariffs to protect its domestic industry, despite short-term losses. The Adani Group has not commented.