Motilal Oswal - MOSL: METALS WEEKLY-Chinese steel prices trend higher, domestic prices remain weak

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Motilal Oswal

MOSL: METALS WEEKLY-Chinese steel prices trend higher, domestic prices remain weak

â€‹METALS WEEKLY: Chinese steel prices trend higher, domestic prices remain weak

Indian steel: Long product (TMT Mumbai) prices were down ~3% WoW. Sponge iron fell ~4% WoW while domestic scrap prices were down ~2% WoW. Domestic iron ore prices were unchanged. Pellet prices were lower. Domestic HRC prices were down ~1% WoW.
Raw Materials: Iron ore prices (China cfr) were down ~1% WoW. Thermal coal prices were unchanged. Coking coal prices were down by ~9% WoW. China pellet import prices were up ~5% WoW
Europe: HRC prices were prices were unchanged. EU steel spreads have improved on sharp decline in coking coal prices. CIS export HRC prices were up ~2%. Rotterdam scrap prices were flat WoW.
China: local HRC prices were up ~4% WoW, reversal in trend over the past few weeks, while rebar prices rose ~3% WoW. Chinese steel product spreads improved, with spreads on rebars at multi-year high. Export HRC/rebar prices were up ~1% WoW.
Base metals: Aluminum (cash LME) was up ~3% WoW. Alumina prices were marginally higher. Zinc (cash LME) was down ~1% WoW while lead was down ~4% WoW. Copper was up ~1% WoW. Crude oil (Brent) prices were up ~5% WoW.

23/05/2017 28 EN

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MOSL: METALS WEEKLY-Chinese steel prices trend higher, domestic prices remain weak

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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