Hindustan Zinc (HZL), the largest domestic zinc producer, may soon slash its product prices in the local market, as the prices have started falling in the international market. | |
| If it happens, it will be in quick succession to the company raising its product prices by Rs 700 a tonne across all categories, effective from Saturday, even though a trend of falling prices was in sight. |
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| Post-revision, the benchmark high-grade zinc is quoting at Rs 1,93,600 a tonne, while the special high-grade is selling at Rs 1,94,100 and prime western zinc at Rs 1,91,100. |
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| In its previous revision last Thursday, the company raised the price of the benchmark high grade by a significant 6 per cent to Rs 1,93,200 a tonne. |
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| Ex-factory or stock-point prices are exclusive of excise duty of 16 per cent and central sales tax of 1 per cent or as applicable in zinc. |
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| As in most of the times, this upward revision, too, is mainly attributed to rising domestic demand and estimated supply shortage due to output cut by leading global producers. |
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| Amid falling inventory, the zinc price on the London Metal Exchange (LME) recorded a slump of $190 to $3,250 a tonne on Wednesday from $3,440 a tonne on September 1. |
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| Zinc inventory, too, on LME's registered warehouses recorded a slump of 12,700 tonne to settle at 1,59,800 tonne on Wednesday from 1,72,500 tonne on September 1. |
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| HZL has a special offer in its basket for bulk consumers. For procuring more than 9 tonne of zinc in the calendar month on the declared HZL price list, a special discount of Rs 1,500 a tonne will be given at the end of the month on the total quantity, subject to minimum lifting of 9 tonne. |
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