Motilal Oswal - MOSL: METALS WEEKLY-Global steel scrap prices rise 4% WoW

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Motilal Oswal

MOSL: METALS WEEKLY-Global steel scrap prices rise 4% WoW

METALS WEEKLY: Global steel scrap prices rise 4% WoW

Indian steel: Long product (TMT Mumbai) prices were unchanged WoW. Sponge iron prices were down ~1% WoW, while domestic scrap prices were down ~5% WoW. Pellet prices were unchanged. Domestic iron ore prices were also unchanged. Domestic HRC prices were unchanged, but import price offers were up by ~3% WoW.
Raw materials: Iron ore prices (China cfr) were up ~2% WoW. Thermal coal prices were also up by ~2% WoW. Coking coal prices were unchanged as supply is expected to ease. China's pellet import prices were marginally lower.
Europe: HRC prices saw some pockets of increase. CIS HRC export prices were unchanged. Rotterdam scrap prices were up ~4% WoW.
China: Local steel HRC and rebar prices were unchanged. However, export rebar was down ~1%, while HRC was unchanged. Steel inventories have increased in the last couple of weeks, but coming off lower levels.
Base metals: Aluminum (cash LME) was unchanged, while alumina was lower. Copper (cash LME) was unchanged. Zinc was up ~1% WoW, while lead was down ~2%. Brent crude prices were up ~3% WoW to ~USD70/bbl.

16/01/2018 28 EN

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MOSL: METALS WEEKLY-Global steel scrap prices rise 4% WoW

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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