The Hindu Business Line : Hindalco hikes aluminium prices by Rs 10,000 per tonne

Hindalco Industries Ltd has raised prices of aluminium by Rs 10,000 per tonne in a bid to keep pace with the overall upturn in the metal's prices on international markets.

The company's primary metal price will now be Rs 1,45,800 per tonne.

Despite a sharp drop in the metal's prices on Monday, the overall trend is upward, analysts tracking the commodity markets said.

Barring Monday's sharp downturn, the metal has been moving up during 2006.

The company had raised prices of the metal last month.

Shares of Hindalco ended up Rs 4.70 at Rs 214.85 but not before touching a low of Rs 193 in early trade. On Monday, shares of Hindalco had fallen by Rs 32.35 to Rs 210.15 as the metal had plunged on the London Metal Exchange (LME).

However, prices of aluminium and other base metals appear to have recovered as hedge funds were expected to resume buying.

Shares of Sterlite have fallen by Rs 101.75 over the last two trading sessions to Rs 502.30 on BSE.

Shares of Nalco recovered to end at Rs 291, up by Rs 4.65 from the previous close.

More Stories on : Aluminium | Announcements | Hindalco Industries Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Banks raising funds via CDs with MFs

Parliamentary panel concerned over low sales growth of oil marketing cos

Govt targets 20,000 MW capacity this year

Infosys to invest big in training

MS readies for next anti-piracy drives

Hindalco hikes aluminium prices by Rs 10,000 per tonne

Long-term iron ore deal with China likely

Markets bounce back in style

Just a correction, says Chidambaram

Sugar stocks slip on fear of Govt intervention on pricing

Pvt airlines capture 75 pc market share