Motilal Oswal - MOSL: METALS WEEKLY-Domestic flat product prices lower; Private miners cut iron ore prices

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Motilal Oswal

MOSL: METALS WEEKLY-Domestic flat product prices lower; Private miners cut iron ore prices

â€‹METALS WEEKLY: Domestic flat product prices lower; Private miners cut iron ore prices

Indian steel: Long product (TMT Mumbai) prices unchanged WoW. Sponge iron fell ~2% WoW while domestic scrap prices were up ~1% WoW. Private miners in Odisha cut iron ore prices by INR100-300/t WoW. Pellet prices were also lower. Domestic HRC prices were down ~2% WoW
Raw Materials: Iron ore prices (China cfr) were down ~1% WoW. Thermal coal prices were down ~3% WoW. Coking coal were down by ~20% WoW, back to the levels pre-weather disruptions in Australia. China pellet import prices were down ~5% WoW.
Europe: HRC prices were down ~1% WoW. CIS export HRC prices were down ~2%. Rotterdam scrap prices were down ~3% WoW.
China: local HRC prices were up ~1% WoW while rebar rose ~3% WoW. Rebar product spreads for Chinese mills are at multi-year highs. Export rebar prices were unchanged while HRC was down ~2% WoW.
Base metals: Aluminum (cash LME) was down ~1% WoW. Alumina prices were lower. Zinc (cash LME) was unchanged WoW while lead was down ~1% WoW. Copper was unchanged WoW. Crude oil (Brent) prices were up ~4% WoW.

15/05/2017 28 EN

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MOSL: METALS WEEKLY-Domestic flat product prices lower; Private miners cut iron ore 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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