Motilal Oswal - MOSL: METALS WEEKLY-Global steel scrap down ~11%-Chinese local steel prices lower

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Motilal Oswal

MOSL: METALS WEEKLY-Global steel scrap down ~11%-Chinese local steel prices lower

â€‹METALS WEEKLY: Global steel scrap down ~11%; Chinese local steel prices lower

Indian steel: Long product (TMT Mumbai) prices were up ~1% WoW. Sponge iron prices were up ~2% WoW while domestic scrap prices were up ~4% WoW. Domestic iron ore prices were unchanged but pellet prices were up by ~6% WoW. Domestic HRC prices were up ~1% WoW while import HRC prices were marginally lower.
Raw Materials: Iron ore prices (China cfr) were down ~8% WoW on lower steel price in china and high inventories. Iron ore port inventories in China were unchanged WoW. Thermal coal prices were down ~4% WoW. Coking coal prices were down ~5% WoW. China pellet import prices were down ~3% WoW.
Europe: HRC prices were up ~1% WoW. CIS export HRC prices were marginally lower. Rotterdam scrap prices were down ~11% WoW.
China: local HRC steel prices were down ~6% WoW, while rebar prices were down ~4% WoW. Steel HRC export prices were down ~1% WoW while rebar was marginally higher.
Base metals: Aluminum (cash LME) was up 1% WoW. Spot premiums in Japan were unchanged. Alumina prices were down by ~2% WoW. Zinc (cash LME) was down ~1% WoW while lead was up ~4% WoW. Copper was down ~2% WoW. Crude oil (Brent) prices were down ~2% WoW.

28/03/2017 28 EN

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MOSL: METALS WEEKLY-Global steel scrap down ~11%-Chinese local steel prices lower

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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