Motilal Oswal - MOSL: METALS WEEKLY: Global iron ore prices rise on falling Chinese port inventories

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Motilal Oswal

MOSL: METALS WEEKLY: Global iron ore prices rise on falling Chinese port inventories

METALS WEEKLY: Global iron ore prices rise on falling Chinese port inventories

Indian steel: Long product (TMT Mumbai) prices were marginally lower WoW. Sponge iron prices were up ~1% WoW, while scrap prices were up ~4% WoW. Domestic iron ore and pellet prices were unchanged. Domestic HRC prices were unchanged. HRC import offers were marginally lower, but export offers were unchanged.
Raw materials: Iron ore prices (China cfr) were up ~4% WoW. Thermal coal prices were unchanged. Coking coal prices were down ~1% WoW. China’s pellet import prices were unchanged. Chinese graphite electrode prices were down ~1% WoW.
Europe: HRC prices were ~2% higher WoW. EU has imposed preliminary duties of 25% if imports exceed the average imports of the last three years. CIS HRC export prices were down ~1% WoW. Rotterdam scrap prices were down ~1% WoW.
China steel prices: Chinese local HRC and rebar prices were down ~1% WoW. Export rebar and HRC prices were also marginally lower.
Base metals: Aluminum (cash LME) was down ~1% WoW. Alumina prices were unchanged, supported by production cuts in China. Copper (cash LME) was up ~3% WoW. Zinc (cash LME) was down ~1%, but lead was up ~2% WoW. Brent crude prices were up ~2% WoW.

31/07/2018 28 EN

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MOSL: METALS WEEKLY: Global iron ore prices rise on falling Chinese port inventories

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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