Copper, steel push up electronic goods prices
Wednesday, 27 January 2010
MUMBAI, Jan 26 (Commodity Online): With the copper prices rising day by day, several companies have decided hike the price of their consumer durable products, which need usage of copper.
Companies like LG, Godrej & Boyce, Videocon and Whirlpool may hike the prices by around 5 per cent in refrigerators, washing machines, air conditioners and flat panel displays by March to make up for increasing input costs.
The Rs 300 billion (30,000 crore) consumer durable industry, which had been increasing prices regularly until the Diwali season, is hit by the continuing rise in prices of raw materials such as steel, plastic and copper.
The prices of flat steel products, primarily used by the durable manufacturers and auto companies has gone up to Rs 2,000 a tonne this month, almost 8 per cent higher than a year ago. Prices of other key components like copper and plastics too have gone up by 10 per cent during the period.
The industry, growing at an annual rate of 10-12 per cent, has been increasing their prices at regular intervals. LG has increased the prices of flat televisions 6.5 per cent since July, while Videocon last summer raised prices of all products by 3 per cent.
Companies like LG, Godrej & Boyce, Videocon and Whirlpool may hike the prices by around 5 per cent in refrigerators, washing machines, air conditioners and flat panel displays by March to make up for increasing input costs.
The Rs 300 billion (30,000 crore) consumer durable industry, which had been increasing prices regularly until the Diwali season, is hit by the continuing rise in prices of raw materials such as steel, plastic and copper.
The prices of flat steel products, primarily used by the durable manufacturers and auto companies has gone up to Rs 2,000 a tonne this month, almost 8 per cent higher than a year ago. Prices of other key components like copper and plastics too have gone up by 10 per cent during the period.
The industry, growing at an annual rate of 10-12 per cent, has been increasing their prices at regular intervals. LG has increased the prices of flat televisions 6.5 per cent since July, while Videocon last summer raised prices of all products by 3 per cent.