The Hindu Business Line : Copper, zinc rates cut

MAJOR metal producers on Thursday announced a cut in prices by Rs 800-1,000 a tonne on copper products and Rs 100 a tonne on zinc products with immediate effect following a weak trend on the London metal market.

Major copper producers including Hindustan Copper Ltd, Sterlite and Birla Copper have decided to reduce prices for the copper cathodes to Rs 1,74,048 a tonne from Rs 1,83,978 (as on May 1) for this month.

CC rods (8 mm) prices have been reduced to Rs 1,79,161 a tonne from Rs 1,87,619.

Similarly, the Bombay Metals Exchange (BME) has lowered its benchmark price of copper wire bar to Rs 1,84,018 from Rs 1,86,944.

Hindustan Zinc Ltd (HZL) has, however, increased prices by Rs 900 a tonne on lead metal for the first half of the current month in line with LME trends, trade sources said.

For zinc, the prices are Rs 70,300 a tonne on ex-smelter basis for special high grade and Rs 69,800 a tonne for high grade. The last revision was made on May 16.

For lead, the rate is Rs 54,900.

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