The Hindu Business Line : Metal producers hike prices for all products

FOLLOWING continued firmness in international markets, all major metal producers in the country have raised their sale prices by Rs 6,000-18,000 a tonne, depending on the grades for the current month, effective from Thursday.

Hindustan Copper Ltd, Birla Copper and Sterlite Industries announced a hefty price increase of Rs 15,000 a tonne, following continued rise in the London Metal Exchange (LME).

Hindustan Zinc Ltd (HZL) has also increased its sale prices by Rs 4,900 a tonne. Similarly, Nalco and Hindalco — two major aluminium producers — have raised their prices by Rs 6,000-7,000 a tonne on the basic and rolled products for the second month. The companies increased Rs 2,000 a tonne last month.

"The company has increased its prices by Rs 6,000 a tonne to Rs 1,02,400 for all the basic products in line with rising LME prices," Mr Harish Pradhan, Deputy General Manger (PR), Nalco, told Business Line.

Three major copper producers have increased their (provisional) prices by Rs 18,500 to Rs 2,23,400 a tonne from 2,04,900 a tonne (as on November 1) for copper cathode (CC) full category and increased by Rs 18,600 a tonne to Rs 2,24,900 from Rs 2,06,300 per tonne for cathode (cut) category for the current month, trade sources said.

The final price for last month also increased by Rs 1,500 at Rs 2,30,966 per tonne (Rs 2,15,665) CC full and Rs 2,32,466 per tonne (Rs 2,17,165) for CC cut category.

Similarly, the Bombay Metals Exchange also revised its benchmark price of copper wire bar up by Rs 5,305 to Rs 2,42,241 a tonne from Rs 2,36,936 (on November 16).

HZL raised its selling prices by Rs 4,900 per tonne on zinc products and by Rs 400 a tonne in lead metal, trade sources said. The company has increased its prices to Rs 99,000 a tonne (Rs 94,100 as on November 16) for Special High Grade (SHG) and Rs 98,800 (Rs 93,900) for High Grade (HG).

In Lead category, the company has increased the prices to Rs 57,900 (previous price — Rs 57,500).

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