Motilal Oswal - MOSL: METALS WEEKLY-Global scraps prices continue to fall-Coking coal prices see some recovery

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Motilal Oswal

MOSL: METALS WEEKLY-Global scraps prices continue to fall-Coking coal prices see some recovery

METALS WEEKLY: Global scrap prices continue to fall; Coking coal prices see some recovery

Indian steel: Long product (TMT Mumbai) prices were down ~1% WoW. Sponge iron prices were also down ~1% WoW, but domestic scrap prices increased ~4% WoW. Pellet prices were marginally lower. Domestic iron ore prices were unchanged. Domestic HRC prices were unchanged; import offers were marginally lower, while export offers were unchanged.
Raw materials: Iron ore prices (China cfr) were down ~1% WoW. Chinese iron ore port inventory fell sharply WoW. Thermal coal prices were down ~2% WoW. Coking coal prices were up ~3% WoW amid risk of weather disruption in Australia and logistics issues in China. China's pellet import prices were unchanged.
Europe: HRC prices were higher. Steel spreads were further aided by lower iron ore cost. CIS HRC export prices were marginally higher. Rotterdam scrap prices were down ~3% WoW.
China: Local steel HRC and rebar prices were down 0.5% WoW. Export prices for both rebar and HRC, however, were marginally higher WoW.
Base metals: Aluminum (cash LME) was unchanged, while alumina was marginally higher. Copper (cash LME) was unchanged. Zinc was up ~1% WoW, while lead was up ~3% WoW. Brent crude prices were down ~3% WoW.

06/02/2018 28 EN

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MOSL: METALS WEEKLY-Global scraps prices continue to fall-Coking coal prices see some recovery

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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