Motilal Oswal - MOSL: METALS WEEKLY-Aluminum and zinc prices increase on supply measures

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Motilal Oswal

MOSL: METALS WEEKLY-Aluminum and zinc prices increase on supply measures

â€‹METALS WEEKLY: Aluminum and zinc prices increase on supply measures

Steel

India: Long product (TMT Mumbai) prices were up ~2% WoW. Sponge iron prices were up ~3% WoW, while domestic scrap prices were up ~1% WoW. Private iron ore mines raised prices by INR150/300 per ton for fines/lumps. Pellet prices were higher. Domestic HRC prices were up ~3% WoW, while imported HRC price offers were up ~2% WoW.

Raw materials: Iron ore prices (China cfr) were up ~4% WoW. Chinese iron ore port inventories were lower. Thermal coal prices were down 4% WoW. Coking coal prices were down ~2% WoW. China's pellet import prices were unchanged.

Europe: HRC prices were unchanged. CIS HRC export prices were up ~5% WoW. Rotterdam scrap prices were up ~2% WoW.

China: Local HRC prices were up ~2% WoW, while rebar prices were up ~1% WoW. Export HRC/rebar prices were up ~3%/1% WoW.

Base metals: Aluminum (cash LME) prices were up ~3% WoW and ~11% since the end of July on slowing supply growth in China. Production rose by just ~1% YoY in China in July. Zinc (cash LME) rose 8% WoW to USD3,117/t on tightening ore availability due to environment inspections in China. Lead was up ~3% WoW. Copper was up ~2% WoW. Crude oil (Brent) prices were up ~1% WoW.

22/08/2017 28 EN

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MOSL: METALS WEEKLY-Aluminum and zinc prices increase on supply measures

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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