ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • RBI extends implementation of card tokenisation norms by 3 months; deadline extended till 30 September
  • EXCLUSIVE: 'Noida International Airport at Jewar to be jewel in crown of Indian aviation sector' - Know what all is coming up at
  • D-Street Corner: Market gains 2.7% in highly volatile week, investors richer by 5.5 lakh cr; what should investors do on Monday?
  • Sebi allows UPI payment option to invest in public issues of REITs, InvITs with effect from 1 August
  • Netflix lays off 450 employees in two months—Here's what's bothering OTT giant
Read in App
Business News » World News

Indian zinc miner sees output rebounding in 2019/20 financial year

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

India`s Hindustan Zinc Ltd (HZL) (HZL), the world`s second largest zinc miner, expects its output to grow in 2019/20 after a drop in the previous financial year, a senior executive said, a move that could put pressure on global prices.

The company`s refined zinc production fell 12 percent in 2018/19 due to the closure of its open cast mines, prompting a switch to underground mines.

"The capacity increase will happen towards the middle of the year. We expect to show growth," a senior company executive said, asking not to be named, adding that formal guidance would be issued on Thursday.

HZL, majority owned by Vedanta Group which is controlled by billionaire Anil Agarwal, is betting on higher use of galvanized steel by automakers and more investment in infrastructure to meet demand from India`s expanding middle class.

Zinc prices, the second best LME performer in the year to date after nickel with gains of 14 percent, are expected to be weighed down by rising supply this year, a Reuters poll showed on Wednesday.

The refined zinc market has been tight due to bottlenecks in processing rising output from mines into metal. But analysts now expect excess supplies to weigh on prices.

However, the executive said HZL expected prices to be higher as uncertainties ease over the trade war between the United States and China.

"We are pretty confident that the market is pretty tight and the price should do well this year," the executive said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Wed, May 01, 2019
09:59 pm
Reuters
RELATED NEWS
India suffering from low labor participation rate, rupee depreciating in the world, says RBI Deputy Governor Michael Patra India suffering from low labor participation rate, rupee depreciating in the world, says RBI Deputy Governor Michael Patra
Investment through participatory notes declines to Rs 86,706-cr in May Investment through participatory notes declines to Rs 86,706-cr in May
India’s sports sector to be next hot investment destination - US$100bn industry by 2027 | Details of report India’s sports sector to be next hot investment destination - US$100bn industry by 2027 | Details of report
PM Narendra Modi to inaugurate Vanijya Bhawan and launch NIRYAT portal - Date, time and other details PM Narendra Modi to inaugurate Vanijya Bhawan and launch NIRYAT portal - Date, time and other details
Bank privatisation may gather pace as government plans to pass Banking Law Amendment Bill in upcoming Monsoon Session: Sources Bank privatisation may gather pace as government plans to pass Banking Law Amendment Bill in upcoming Monsoon Session: Sources

LATEST NEWS

This Mukul Agrawal textile stock may grow over 52% on strong export outlook and government initiatives

Zomato acquires 15-minute delivery platform Blinkit for Rs 4,447 cr

How has technology changed the face of investing and what lies ahead? Analyst decodes

RBI exploring options to ensure customer safety dealing with PPIs issued by non-bank entities

Ola Electric crosses Rs 500 cr revenue in April-May

BharatNCAP: Government proposes to implement vehicle safety rating, issues draft notification

Government extends levy of GST compensation cess till March 2026, finance ministry issues notification

Indian markets should start its journey upward by October – know why? Analyst lists out 4 reasons

US one step away from historic gun law reforms

Two-thirds of MSME loan originations concentrated in Maharashtra, Tamil Nadu, and Delhi: Credit information company data

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV