Motilal Oswal - MOSL: METALS WEEKLY-China local steel prices increase, inventories continue to decline

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Motilal Oswal

MOSL: METALS WEEKLY-China local steel prices increase, inventories continue to decline

â€‹METALS WEEKLY: China local steel prices increase, inventories continue to decline

Indian steel: Long product (TMT Mumbai) prices were unchanged WoW. Sponge iron prices were up ~1% WoW, while domestic scrap prices were up ~2% WoW. Domestic iron ore prices were unchanged. Pellet prices were unchanged. Domestic HRC prices were unchanged WoW.
Raw materials: Iron ore prices (China cfr) were up ~2% WoW. Thermal coal prices were up ~3% WoW. Coking coal prices were down ~4% WoW. China pellet import prices were up ~2% WoW, driving by higher pellet premiums.
Europe: HRC prices were unchanged after declining consecutively for last few weeks. EU steel spreads remain supportive on lower coking coal prices. CIS export HRC prices were up ~1% WoW. Rotterdam scrap prices were up ~2% WoW.
China: Local HRC prices were up ~4% WoW, while rebar prices were up ~1% WoW. Steel inventories are declining. Export HRC/rebar prices were up ~1% WoW.
Base metals: Aluminum (cash LME) was down ~2% WoW. Alumina prices were higher. Zinc (cash LME) was up ~1% WoW. Lead was down ~1% WoW. Copper was down ~1% WoW. Crude oil (Brent) prices were down ~2% WoW.

19/06/2017 28 EN

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MOSL: METALS WEEKLY-China local steel prices increase, inventories continue to decline

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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