Motilal Oswal - MOSL: METALS WEEKLY-Chinese local steel prices rise on reports of further supply cuts

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Motilal Oswal

MOSL: METALS WEEKLY-Chinese local steel prices rise on reports of further supply cuts

METALS WEEKLY: Chinese local steel prices rise on reports of further supply cuts

Indian steel: Long product (TMT Mumbai) prices were down ~1% WoW. Sponge iron and domestic scrap prices were unchanged WoW. Pellet prices were marginally lower. Domestic iron ore prices were unchanged, but the defaulting Odisha miners have been allowed to resume production, which can pressure prices. Domestic HRC prices were marginally higher, but import and export offers were unchanged.
Raw materials: Iron ore prices (China cfr) were up ~1% WoW. Thermal coal prices were up ~3% WoW. Coking coal prices were marginally higher. China’s pellet import prices were unchanged.
Europe: HRC prices were unchanged. CIS HRC export prices were up ~2% WoW. Rotterdam scrap prices were up ~3% WoW.
China: Chinese local rebar prices were up ~6% WoW, while HRC prices were up ~3% WoW. Export rebar prices were up ~3% WoW, while HRC prices were up ~1% WoW.
Base metals: Aluminum (cash LME) was up ~1% WoW, while inventories were also higher. Alumina was lower by ~2% WoW. Copper (cash LME) was down ~1% WoW, after rising ~6% last week. Zinc was down ~1% WoW, while lead was down ~4% WoW. Brent crude prices were up ~4% WoW.

27/02/2018 28 EN

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MOSL: METALS WEEKLY-Chinese local steel prices rise on reports of further supply cuts

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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