Motilal Oswal - MOSL: METALS WEEKLY: Base metals prices decline 4-6% WoW

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Motilal Oswal

MOSL: METALS WEEKLY: Base metals prices decline 4-6% WoW

METALS WEEKLY: Base metals prices decline 4-6% WoW

Indian steel: Long product (TMT Mumbai) prices were down ~2% WoW due to seasonal weakness. Sponge iron prices were up ~1% WoW, while scrap prices were down ~2% WoW. Domestic iron ore prices were unchanged, while pellet prices were marginally higher. Domestic HRC prices were unchanged. HRC import and export price offers were also unchanged.
Raw materials: Iron ore prices (China cfr) were down ~2% WoW. Thermal coal prices were up ~3% WoW. Coking coal prices were unchanged. China’s pellet import prices were up ~3% WoW. Chinese graphite electrode prices were marginally lower WoW.
Europe: HRC prices were unchanged. CIS HRC export prices and Rotterdam scrap prices were also unchanged.
China prices stable: Chinese local HRC and rebar prices were unchanged. Export rebar prices were down ~2% WoW, while HRC prices were down ~1% WoW.
Base metals: Aluminum (cash LME) prices were down ~4% WoW. Alumina prices were higher. Copper (cash LME) prices were down ~5% WoW. The price of zinc (cash LME) was down ~6%, while that of lead was down ~5% WoW. Brent crude prices were down ~3% WoW.

10/07/2018 28 EN

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MOSL: METALS WEEKLY: Base metals prices decline 4-6% WoW

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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