The Daily Brief The world hunts for copper
38 snips
Jan 27, 2026 A deep dive into why copper is suddenly so coveted and how mine depth, processing needs and capital intensity squeeze supply. A clear look at smelter margins, recycling limits and India's reliance on imports. Plus a breakdown of a major airline's disastrous quarter, covering financial hits, operational failures and the uncertain path to recovery.
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Sterlite Shutdown Shifted India's Position
- The 2018 Sterlite smelter shutdown removed ~400,000 tpa of capacity and flipped India from a net exporter to a net importer.
- That loss exposed India's dependence on imported cathodes and concentrate.
Refining Can Scale Fast, Mining Cannot
- New smelters like Adani's planned 1 million tpa project can change India's midstream but will still rely on imports for concentrate.
- Recycling helps but India's informal system limits its ability to offset import dependence.
IndiGo's Profits Took A Heavy Hit
- IndiGo's revenue rose modestly but profit plunged ~78% due to one‑time hits and other shocks.
- The quarter shows operating strength undermined by currency, regulatory and crisis provisions.