The Hindu Business Line : Domestic copper, zinc producers hike prices

FOLLOWING continued firmness in the international markets, all major producers of copper and zinc have revised their selling prices upward by Rs 7,000-8,000 per tonne depending on the grades for the current month, effective from February 1, trade sources said.

Major producers of copper products — Hindustan Copper, Birla Copper and Sterlite Industries — on Wednesday announced a hefty price increase of Rs 6,800-6,900 per tonne (provisional) for the current month, following the continued upturn on the London Metal Exchange (LME).

Hindustan Zinc Ltd, a major zinc producer, also revised its sale prices upward by Rs 7,900 per tonne on its products.

All the major metal producers announce their provisional sale price and final price (for the month ended) every month. Three major copper producers have increased its (provisional) prices to Rs 2,41,300 a tonne from 2,34,400 a tonne for copper cathode (full) category and Rs 2,42,700 from Rs 2,35,900 per tonne for cathode (cut) category for the current month, sources said.

The final price for last month also increased by Rs 1,356 a tonne to Rs 2,48,122 per tonne (Rs 2,46,766) CC full and Rs 2,49,622 per tonne (Rs 2,48,266) for CC cut category.

Similarly, the Bombay Metals Exchange (BME) also revised its benchmark price of copper wire bar upward by Rs 3,201 at Rs 2,59,077 a tonne from Rs 2,55,876 per tonne (on January 15) for the current month.

Hindustan Zinc Ltd (HZL) has increased its prices to Rs 1,26,200 per tonne (Rs 1,18,200 as on January 21) for Special High Grade (SHG) and Rs 1,26,000 per tonne (Rs 1,18,100) for High Grade (HG).