Sterlite Profit Gains 60% on Higher Base Metal Prices

Jan. 25, 2011 12:14PM PST

Bloomberg.com reports that Sterlite (NYSE:SLT) announced huge profits, ending Dec 31, driven by higher prices for base metals

Bloomberg.com reports that Sterlite (NYSE:SLT) announced huge profits, ending Dec 31, driven by higher prices for base metals.

The story is quoted as saying:

The average price of copper rose 29 percent in the last quarter to $8,605 a metric ton in London, while aluminum prices gained 16 percent to $2,365 a ton. The prices of zinc and lead averaged 4 percent higher at $2,331 and $2,404 respectively, while silver, the precious metal also produced by unit Hindustan Zinc Ltd., rose more than 50 percent to $26.5 an ounce in the spot market last quarter.

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