Motilal Oswal - MOSL: METALS WEEKLY-Chinese export HRC prices see some weakness

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Motilal Oswal

MOSL: METALS WEEKLY-Chinese export HRC prices see some weakness

â€‹METALS WEEKLY: Chinese export HRC prices see some weakness

Indian steel: Long product (TMT Mumbai) prices were unchanged WoW. Sponge iron prices were up ~1% WoW, while domestic scrap prices were up ~6% WoW. Pellet prices were marginally higher. Domestic iron ore prices were unchanged. Domestic HRC price were up ~1% WoW, but import HRC price offers were down ~3% WoW.
Raw materials: Iron ore prices (China cfr) were marginally lower. Thermal coal prices were up ~1% WoW. Coking coal prices were also up ~1% WoW. Chinaâ€™s pellet import prices were down ~1% WoW, but premium over iron ore prices remains strong.
Europe: HRC prices were unchanged. Product spreads were marginally lower. CIS HRC export prices were down ~1% WoW. Rotterdam scrap prices were marginally higher WoW.
China: Local HRC prices were unchanged, but rebar prices were up ~1% WoW. Export HRC prices, however, were down ~1% WoW and rebar prices were down ~2% WoW. Chinese export HRC prices are down by ~5% since the end of September.
Base metals: Aluminum (cash LME) prices were down ~1% WoW. Alumina prices were marginally lower WoW. Zinc (cash LME) was down ~1% WoW. Lead was also down ~1% WoW. Copper was down ~2% WoW. Crude oil (Brent) prices were up ~3% WoW.

07/11/2017 28 EN

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MOSL: METALS WEEKLY-Chinese export HRC prices see some weakness

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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