For the second time in a week, Hindustan Zinc has raised prices of its products by Rs 4,400 to Rs 1,31,500 a tonne. The previous hike, which was effected on Monday, had seen the prices going up by Rs 4,000 a tonne. | |
| This is the 11th time that the company has increased its product prices this year. The latest hike follows the strong holding of the metal at the LME. |
| |
| Zinc's run on the LME has lifted it to a premium over aluminium for the first time in about 13 years. Its prices hit a record $2,585 a tonne on Thursday as production softened. |
| |
| Zinc has climbed over 80 per cent in the past year while LME stocks dwindled to 2,97,375 tonne, the lowest since July 1991. |
| |
| Analysts are of the opinion that further declines are inevitable. On the LME, zinc closed at $2,571 in the open-outcry session, up 2 per cent over Wednesday's close. of $2,520. |
| |
| Industry experts point at the tight money supply scenario and depleting inventories as an explanation to the consistent increase in zinc prices. |
| |
|
| |
