Aluminum makers raise prices for second time, zinc fifth time.
Metals shone brilliantly on Monday after aluminium and zinc majors announced sharp price hikes in their products. This lifted the BSE Metals Index up along with the stock prices of these companies.
Hindalco Industries Ltd and National Aluminium Ltd, country’s biggest aluminum makers, increased prices for a second time this month as demand rose.
Hindalco raised prices by Rs 4,000 ($88.6) a metric tonne, or 3.3%, to Rs 1,26,000 a tonne, spokesperson Pragnya Ram said on April 15.
National Aluminium matched the increase, chairman CR Pradhan said from Bhubaneswar in eastern India.
The BSE Metal index gained more than 410 points or 4.37% to end the day at 9,817.59. The index has gained 2% or 193 points in the last one week when there was a fall being witnessed in most of the other sectoral and benchmark indices.
