Motilal Oswal - MOSL: METALS WEEKLY-Chinese EU steel prices declining despite spike in coking coal prices

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Motilal Oswal

MOSL: METALS WEEKLY-Chinese & EU steel prices declining despite spike in coking coal prices

â€‹METALS WEEKLY: Chinese & EU steel prices declining despite spike in coking coal prices

Indian steel: Long product (TMT Mumbai) prices were up ~4% WoW. Sponge iron prices were unchanged while domestic scrap prices were up ~5% WoW. Domestic iron ore and pellet prices were unchanged. Domestic HRC prices were up ~1% WoW while import HRC prices were down ~2% WoW.
Raw Materials: Iron ore prices (China cfr) were down ~6% WoW on lower steel price in China, high port inventories and increasing local supply. Iron ore port inventories in China were marginally lower WoW. Thermal coal prices were up ~8% WoW. Coking coal prices were up ~2x WoW on weather related disruptions in Australia. Chinese pellet import prices were down 3% WoW.
Europe: HRC prices were down ~4% WoW. CIS export HRC prices were down 1% WoW. Rotterdam scrap prices were up ~5% WoW.
China: Local HRC and rebar steel prices were down ~4% WoW. Export steel prices were however unchanged, but based on reports trades are taking place below the listed prices.

12/04/2017 28 EN

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MOSL: METALS WEEKLY-Chinese & EU steel prices declining despite spike in coking coal prices

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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