LME approves Adani Copper as listed brand for contract delivery

The London Metal Exchange (LME) has approved Adani Copper as a listed brand for delivery against its copper contracts, marking a significant milestone for India's copper industry. According to the LME, warrants for the brand can be issued from 10 July 2026, while LME-approved warehouses have been instructed to include Adani Copper in their off-warrant stock reports with immediate effect.The approved brand is produced by Kutch Copper, a wholly owned subsidiary of Adani Enterprises, at its 500,000 tpa copper smelter in Mundra, Gujarat. The company had applied for LME brand registration in August 2025.

Commissioned with an investment of USD 1.2 billion, the Kutch Copper complex is among the world's largest single-location copper smelters. The project forms part of India's strategy to strengthen domestic refined copper production and reduce dependence on imports. The company also plans to expand the smelter's capacity to 1 mntpa in the next phase.

The approval is expected to enhance the global acceptability and tradability of Indian-produced copper cathodes by allowing them to be delivered against LME contracts. It could also improve export opportunities and strengthen India's position in the international refined copper market.

According to trade data, India imported around 238,080 t of refined copper in CY'25, down 18% y-o-y, with Japan remaining the country's largest supplier. Meanwhile, India's domestic refined copper capacity has been expanding, led by producers such as Hindalco (Birla Copper), Vedanta, and Kutch Copper, taking the country's installed capacity to around 1.15 mntpa.

Market impact: LME registration is expected to improve the international credibility of Adani's copper cathodes, broaden its customer base, and support India's long-term ambition of becoming a net exporter of refined copper as domestic smelting capacity continues to expand.