Vedanta sees Copper, Zinc & Aluminium price to dropping

Mumbai, Sep 9 (PTI) India's largest copper and zinc producer and tipped to be one of the five largest producers of aluminium, Vedanta Resources today said the price of all these three metals would come down by 5-10 per cent. "I believe, price for copper, zinc and aluminium will come down by 5-10 per cent," Vedanta resourecs Chairman Anil Agarwal said here while announcing the restrcuture plan of the company into three commdoity-focued verticals. There will be demand for these metals from Asian countries like India and China, Agarwal said declining to give any time-frame. Vedanta Resources, which plans to bring its Aluminium and power businesses into Vedanta Aluminium, is investing USD 9.8 billion to jack up its aluminium making capacity to 2.6 million tonnes per annum (mtpa) from ten lakh tonnes now. Vedanta has already announced its plan to increase its Copper and Zinc manufacturing capacity to one mtpa. Following the Asarco acquistion, which is expected in two months from now, Copper manufacturing capacity of the company would go up to 1.1 mtpa, Agarwal said. The company curreently produces 754 ktpa of Zinc which is expected to go up to 1,065 KTPA by 2010, Agarwal said. Vedanta Resources, the holding company of Sterlite Industries, Vedanta Aluminium and Sesa Goa, has embarked on a 26 billion capex programme.