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| Hindustan Zinc hikes zinc, lead prices |
| Press Trust of India / New Delhi Oct 15, 2009, 11:16 IST |
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Vedanta Resources group firm Hindustan Zinc today said it has hiked prices of zinc and lead by Rs 2,800 per tonne and Rs 1,500 per tonne, respectively, following the price movement on the London Metal Exchange.
The price revision is effective from today, a company circular said.
Zinc, primarily used in producing galvanised steel, is now priced at Rs 1,12,800 per tonne, while rates of lead, used mainly by battery, rubber and paint industries, stands at Rs 1,21,000 per tonne, it said.
The company, however, reduced silver rates by Rs 182 per kg to Rs 27,640 a kg. Silver is mainly used in electrical contacts and conductors, mirrors and in catalysis of chemical reactions. Its amalgamations are used in dental fillings.
The miner revises rates of its base metals mostly twice a weak in tandem with the price movement at the London Metal Exchange (LME). Silver rates are reviewed almost daily.
Zinc prices on LME have risen to $1,987 a tonne from $1,900 a tonne last week. Lead prices moved up to $2,168 per tonne from $2,150 per tonne last week.
Shares of Hindustan Zinc were trading up nearly 4 per cent at Rs 867.50 in the afternoon trade on the Bombay Stock Exchange.
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