vishnuvega
03-06-2008, 07:17 AM
Enthused by a rise in domestic orders on the back of huge infrastructure initiatives in the country, public sector Hindustan Copper has raised the selling prices of its products by 2 per cent. It is interesting to note that the price on the London Metal Exchange (LME) has gone down.
Although, the company has taken a cautious approach in raising prices marginally, but it may result in the prices of final products using copper going up.
With this revision, the provisional prices, effective June 1, of cathode full and cut are being quoted at Rs 367,000 and Rs 368,500 per tonne from respective levels of Rs 361,100 and Rs 362,500.
Similarly, standard CC rods of 8 mm and 11-16 mm diameter are being quoted at Rs 371,300 and Rs 373,000 from their previous month's level of Rs 365,100 and Rs 366,800, respectively.
Non-standard CC rod of 8 mm diameter are priced now at Rs 370,900 from Rs 364,800.
For May, the company raised final prices of cathode full to Rs 386,358 and cathode cut to Rs 387,858 from previous month's level of Rs 380,099 and Rs 381,599, respectively.
Standard CC rods of 8 mm and 11-16 mm diameter have been raised to Rs 390,848 per tonne and Rs 392,644 from Rs 384,365 and Rs 386,071. Non-standard rods of 8 mm diameter have risen to Rs 390,448 from its previous month's level of Rs 383,965.
The Kolkata-headquartered red metal producer revises selling prices once a month depending on the domestic demand and global price movement.
The company determines the prices based on the average copper price on the London Metal Exchange (LME), premium, average dollar value, levies (if any) and other expenses including port handling, transportation cost etc.
In contrast, copper price on the LME nosedived by 6 per cent in May and is declining further. On May 30, the price was $8105 per tonne and has declined further on Monday to $7972 because of swelling inventories in the LME-registered warehouses.
In May, stockpiles surged to 124,950 tonnes from 110,075 tonnes.
Although, domestic metals market is closely integrated with the global market, rising demand from the infrastructure sector and consumer electronics manufacturer might keep the prices afloat, an analyst said.
Mirroring the demand trend, copper wire bars in the Mumbai metals market surged by Rs 6 to Rs 406 per kg in May-end.
Although, the company has taken a cautious approach in raising prices marginally, but it may result in the prices of final products using copper going up.
With this revision, the provisional prices, effective June 1, of cathode full and cut are being quoted at Rs 367,000 and Rs 368,500 per tonne from respective levels of Rs 361,100 and Rs 362,500.
Similarly, standard CC rods of 8 mm and 11-16 mm diameter are being quoted at Rs 371,300 and Rs 373,000 from their previous month's level of Rs 365,100 and Rs 366,800, respectively.
Non-standard CC rod of 8 mm diameter are priced now at Rs 370,900 from Rs 364,800.
For May, the company raised final prices of cathode full to Rs 386,358 and cathode cut to Rs 387,858 from previous month's level of Rs 380,099 and Rs 381,599, respectively.
Standard CC rods of 8 mm and 11-16 mm diameter have been raised to Rs 390,848 per tonne and Rs 392,644 from Rs 384,365 and Rs 386,071. Non-standard rods of 8 mm diameter have risen to Rs 390,448 from its previous month's level of Rs 383,965.
The Kolkata-headquartered red metal producer revises selling prices once a month depending on the domestic demand and global price movement.
The company determines the prices based on the average copper price on the London Metal Exchange (LME), premium, average dollar value, levies (if any) and other expenses including port handling, transportation cost etc.
In contrast, copper price on the LME nosedived by 6 per cent in May and is declining further. On May 30, the price was $8105 per tonne and has declined further on Monday to $7972 because of swelling inventories in the LME-registered warehouses.
In May, stockpiles surged to 124,950 tonnes from 110,075 tonnes.
Although, domestic metals market is closely integrated with the global market, rising demand from the infrastructure sector and consumer electronics manufacturer might keep the prices afloat, an analyst said.
Mirroring the demand trend, copper wire bars in the Mumbai metals market surged by Rs 6 to Rs 406 per kg in May-end.