Motilal Oswal - MOSL: METALS WEEKLY-Global steel scrap prices increasing; Base metals weak

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Motilal Oswal

MOSL: METALS WEEKLY-Global steel scrap prices increasing; Base metals weak

METALS WEEKLY: Global steel scrap prices increasing; Base metals weak

Indian steel: Long product (TMT Mumbai) prices were marginally lower WoW. Sponge iron prices were down ~3% WoW, while domestic scrap prices were down ~1% WoW. Pellet prices were marginally higher. Domestic iron ore prices were unchanged. Domestic HRC prices and import price offers were also unchanged.
Raw materials: Iron ore prices (China cfr) were down ~7% WoW. Thermal coal prices were up ~1% WoW. Coking coal prices were up ~9% WoW on reports of supply disruption in Australia. Chinaâ€™s pellet import prices were down ~3% WoW.
Europe: HRC prices were unchanged. Product spreads were lower due to higher raw material. CIS HRC export prices were marginally higher. Rotterdam scrap prices were up ~7% WoW.
China: Local HRC were marginally higher, while rebar prices were unchanged. Export HRC was up ~2% WoW, while rebar prices were down ~1% WoW.
Base metals: Aluminum (cash LME) was down ~3% WoW, while alumina was also lower. Copper (cash LME) was down ~3% WoW. Zinc and lead were down ~4%/3%. Brent crude was up 4% WoW.â€‹â€‹

13/12/2017 28 EN

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MOSL: METALS WEEKLY-Global steel scrap prices increasing; Base metals weak

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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