Hindustan Zinc cuts prices by Rs 3,000/tn

Hindustan Zinc, the largest integrated zinc producer in the country, has reduced the price of lead by Rs 3,000 to Rs 1,65,700 a tonne, or 1.8%. Last week the Udaipur-based company had raised the lead prices by 0.6%. However, it kept the zinc prices unchanged at Rs 1,37,200 a tonne.
The company currently has a 440,000 tonne of zinc capacity. It is going through an expansion which will be completed by mid-2008. The stocks of the company is trading at Rs 955, up 1.8% from the previous close of Rs 938.