Motilal Oswal - MOSL : METALS WEEKLY: China resumes work after golden week holidays, with prices on the downtick

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Motilal Oswal

Vishal Chandak

EUR 120.00 For Business Accounts Only

MOSL : METALS WEEKLY: China resumes work after golden week holidays, with prices on the downtick

METALS WEEKLY: China resumes work after golden week holidays, with prices on the downtick

Highlights for the week

Chinese factories resumed work after the golden week holidays, with steel prices coming off again after the government highlighted inclusive growth as a bigger objective compared to GDP growth.
COVID-related lockdowns in China continued with five districts in Shanghai quietly locked down as infections "flare" as Xi Jinping continues to pursue zero COVID strategy without any deviation.
Cifi Holdings, one of the state backed Real Estate developers, defaulted on its coupon falling due on 8th Oct'22, citing the golden week holidays. This indicates that the Chinese Real Estate sector is not out of the woods yet.
Meanwhile, in India, spot HRC prices continued to trend down by almost 1% on a WoW basis, while Chinese domestic HRC fell 1.9% WoW. Korean landed HRC continues at a premium of INR3,1113/t as POSCO is still repairing its HSM in the aftermath of super typhoon Hinnamnor.

Metal prices on the LME continued to slide between 1% and 3% as slowdown in China and trade frictions between the US and China emerge, with additional sanctions on the Chinese semiconductor industry by the US

18/10/2022 36 EN

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Motilal Oswal

Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.

Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.

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Analysts

Vishal Chandak

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MOSL : METALS WEEKLY: China resumes work after golden week holidays, with prices on the downtick

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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