Motilal Oswal - MOSL: METALS WEEKLY-Coking coal and global scrap prices continue to fall

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Motilal Oswal

MOSL: METALS WEEKLY-Coking coal and global scrap prices continue to fall

METALS WEEKLY: Coking coal and global scrap prices continue to fall

Indian steel: Long product (TMT Mumbai) prices were up ~2% WoW. Sponge iron prices, however, were down ~1% WoW, while domestic scrap prices were unchanged. Pellet prices were marginally lower. Domestic iron ore prices were unchanged. Domestic HRC prices were up ~2% WoW, import offers were marginally higher, while export offers increased by ~2% WoW.
Raw materials: Iron ore prices (China cfr) were unchanged. Thermal coal prices were also unchanged. Coking coal prices were down 5% WoW. China’s pellet import prices were unchanged.
Europe: HRC prices were higher. Steel spreads were further aided by lower coking coal cost. CIS HRC export prices were unchanged. Rotterdam scrap prices were down ~3% WoW.
China: Local steel HRC and rebar prices were up ~1% WoW. Rebar export prices were down ~2% WoW, but HRC prices were up ~1% WoW.
Base metals: Aluminum (cash LME) was down ~1% WoW, while alumina was marginally lower. Copper (cash LME) was unchanged. Zinc was up ~2% WoW, while lead was unchanged. Brent crude prices were up ~3% WoW to ~USD70/bbl.

30/01/2018 28 EN

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MOSL: METALS WEEKLY-Coking coal and global scrap prices continue to fall

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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