Daily Updates on SHFE Base Metals and Stainless Steel Warrants (Nov 27)

Vedanta plans to invest about $2.3 billion over the next three to four years to lift copper production above 1 million tonnes by 2030, targeting roughly 500,000 tonnes each in India and Saudi Arabia. Around $2 billion will support integrated Saudi operations, including mining, smelting and copper rod production. Its Saudi rod mill is close to commissioning, while discussions with the government over a new smelter are advanced, with an investment decision expected this quarter. The Economic Times The company is also again pursuing a restart of its 400,000-tpy Tuticorin copper smelter, shut since 2018. Vedanta expects a court decision on its new “green copper” proposal within about three months. If approved, it plans to invest $250 million to refurbish the facility and restart it within 8–9 months, targeting around 250,000 tonnes of annual output with greater use of renewable energy, recycling and upgraded environmental controls. Vedanta also said its Silvassa operation is currently producing at an annualized rate above 245,000 tonnes at roughly 95% capacity.

Pantheon Electric announced on October 1 that recycled copper now accounts for 33% of its company-wide feedstock. At its Leetsdale, Pennsylvania facility, busbar, strip, sheet and plate are produced with 100% recycled copper, with the plant processing more than 100 million lb, or roughly 45,400 tonnes, of copper scrap annually. Construction Newswire The Leetsdale operation uses a reverberatory furnace capable of processing multiple scrap streams, including internal manufacturing scrap and some lower-grade material that would otherwise require prior refining. Copper remaining in the resulting slag is subsequently recovered off-site. Pantheon operates 21 plants across North America and Europe through businesses including International Wire Group and Hussey Copper and says it is continuing to expand recycled-copper capacity. The development highlights scrap becoming a structural feedstock for major U.S. copper fabricators rather than merely a substitute during periods of tight primary supply.

Poland’s KGHM announced on October 1 that it has completed the largest maintenance and modernization shutdown in the history of its Głogów copper smelter ahead of schedule. The work covered the entire main technological line at Głogów II, including the flash furnace and associated installations, following a planned shutdown that began in late June. TradingView The modernization will extend the interval between major shutdowns at Głogów II from four to five years, improving reliability, efficiency and smelting costs. KGHM’s 2026 budget targets around 589,000 tonnes of electrolytic copper production, with the planned Głogów II outage already incorporated into that guidance. Completion of the overhaul therefore removes a temporary production constraint at one of Europe’s important copper smelting operations.