Motilal Oswal - MOSL: METALS WEEKLY-Domestic steel prices gain, sponge prices rise sharply

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Motilal Oswal

MOSL: METALS WEEKLY-Domestic steel prices gain, sponge prices rise sharply

â€‹METALS WEEKLY: Domestic steel prices gain, sponge prices rise sharply

Indian steel: Long product (TMT Mumbai) prices were up ~2% WoW. Sponge iron prices were up ~5% WoW, following ~4% increase last week. Domestic scrap prices were up ~3% WoW. Domestic iron ore and pellet prices were unchanged. Domestic HRC prices were up ~4% WoW, while import HRC price offers were up ~2% WoW.
Raw materials: Iron ore prices (China cfr) were up ~8% WoW. Chinese iron ore port inventories were unchanged. Thermal coal prices were unchanged. Coking coal prices were up ~6% WoW on strong buying activity in China. Chinaâ€™s pellet import prices were down ~4% WoW, as premium over iron ore remains strong.
Europe: HRC prices were up ~4% WoW. EU steel spreads improved on higher steel prices, partly offset by increase in iron ore and coking coal. CIS export HRC prices were down ~2% WoW. Rotterdam scrap prices were up ~2% WoW.
China: Local HRC prices were up ~3% WoW, while rebar prices were up ~4% WoW. Export HRC/rebar prices were up ~2 WoW.
Base metals: Aluminum (cash LME) was unchanged. Zinc (cash LME) was up ~1% WoW, while lead was up ~3% WoW. Copper was up ~1% WoW. Crude oil (Brent) prices were unchanged.

08/08/2017 28 EN

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MOSL: METALS WEEKLY-Domestic steel prices gain, sponge prices rise sharply

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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