Motilal Oswal - MOSL: METALS WEEKLY-Base metals decline; India long steel product prices continue to rise

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Motilal Oswal

MOSL: METALS WEEKLY-Base metals decline; India long steel product prices continue to rise

METALS WEEKLY: Base metals decline; India long steel product prices continue to rise

Indian steel: Long product (TMT Mumbai) prices were up ~2% WoW. Sponge iron prices were up ~5% WoW, while scrap prices were up ~6% WoW. Domestic iron ore prices were unchanged, while pellet prices were marginally higher. Domestic hot rolled coil (HRC) prices were unchanged. HRC import offers also remained unchanged, but export offers were marginally lower.
Raw materials: Iron ore prices (China Cost and Freight) were down ~3% WoW. Thermal coal prices were down ~2% WoW, while coking coal prices were up ~1% WoW. China's pellet import prices were up ~4% WoW, while Chinese graphite electrode prices were down ~1% WoW.
Europe: HRC prices were unchanged, while CIS HRC export prices also remained unchanged. Rotterdam scrap prices were down 11% WoW on the recent Turkey crisis.
China steel prices: Chinese local rebar prices were up ~2% WoW, while HRC was up ~1% WoW on supply tightness. Export prices of rebar and HRC were unchanged.
Base metals: Aluminum (cash LME) was down ~2% WoW. Alumina prices continued to move higher. Copper (cash LME) was down ~5% WoW. Zinc (cash LME) was down ~8%, while lead was down ~5% WoW. Brent crude prices were down ~1% WoW.

21/08/2018 28 EN

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MOSL: METALS WEEKLY-Base metals decline; India long steel product prices continue to rise

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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