Motilal Oswal - MOSL: METALS WEEKLY-Domestic long product prices improve post festive period

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Motilal Oswal

MOSL: METALS WEEKLY-Domestic long product prices improve post festive period

â€‹METALS WEEKLY: Domestic long product prices improve post festive period

Indian steel: Long product (TMT Mumbai) prices were up ~2% WoW. Sponge iron prices were up ~5% WoW, while domestic scrap prices were up ~3% WoW. Pellet prices were unchanged. Domestic HRC price were up ~1% WoW, while import HRC price offers were marginally higher.
Raw Materials: Iron ore prices (China cfr) were down ~4% WoW. Thermal coal prices were up ~2% WoW. Coking coal prices were unchanged. Chinaâ€™s pellet import prices were up ~6% WoW, despite a fall in iron ore prices, as Chinese mills target environment-friendly production.
Europe: HRC prices were unchanged. Product spreads, however, improved on lower iron ore prices. CIS HRC export prices were down ~1% WoW. Rotterdam scrap prices were down ~1% WoW.
China: Local HRC and rebar prices were down ~2%/~1% WoW. Export HRC prices were down ~2% WoW, but rebar prices were up ~2% WoW. Product spreads, however, were unchanged on lower iron ore prices.
Base metals: Aluminum (cash LME) prices were down ~2% WoW. Alumina prices were marginally lower WoW. Zinc (cash LME) was unchanged. Lead was down ~3% WoW. Copper was down ~2% WoW. Crude oil (Brent) prices were up ~5% WoW.

31/10/2017 28 EN

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MOSL: METALS WEEKLY-Domestic long product prices improve post festive period

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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