Motilal Oswal - MOSL: METALS WEEKLY: Aluminum and alumina prices increase sharply on sanction against Rusal

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Motilal Oswal

MOSL: METALS WEEKLY: Aluminum and alumina prices increase sharply on sanction against Rusal

METALS WEEKLY: Aluminum and alumina prices increase sharply on sanction against Rusal

Indian steel: Long product (TMT Mumbai) prices were up ~2% WoW. Sponge iron prices were also up ~2% WoW, while domestic scrap prices increased ~3% WoW. Pellet and domestic iron ore prices were unchanged. Domestic HRC prices were up ~1% WoW, while import and export offers were unchanged.
Raw materials: Iron ore prices (China cfr) were unchanged. Thermal coal prices were up ~1% WoW. Coking coal prices were down ~2% WoW. China’s pellet import prices were unchanged WoW. Chinese graphite electrode prices were unchanged.
Europe: HRC prices were marginally lower, but product spreads improved on lower raw material prices. CIS HRC export prices were down ~2% WoW. Rotterdam scrap prices were down ~1% WoW.
China: Chinese local HRC and rebar prices were marginally lower WoW. Export rebar prices were down ~2% WoW, while HRC prices were unchanged.
Base metals: Aluminum (cash LME) was up ~18% WoW due to US sanctions against Rusal, impacting ~7% of global aluminum production. Alumina was up ~23% WoW due to ongoing disruption at Hydro’s alumina facility in Brazil and sanctions against Rusal. Copper (cash LME) was up ~2% WoW. Zinc was down ~3% WoW, while lead was down ~1% WoW.

17/04/2018 28 EN

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MOSL: METALS WEEKLY: Aluminum and alumina prices increase sharply on sanction against Rusal

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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