Motilal Oswal - MOSL: METALS WEEKLY- India HRC steel product prices still weak

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MOSL: METALS WEEKLY- India HRC steel product prices still weak

METALS WEEKLY: India HRC steel product prices still weak

Indian steel: Long product (TMT Mumbai) prices were marginally up WoW. Sponge iron prices were up ~3% WoW, while scrap prices increased ~3% WoW. Domestic iron ore prices were unchanged. Pellet prices inched up slightly. Domestic HRC prices declined ~2% WoW. Export prices were higher, while import price offers were largely unchanged.
Raw materials: Iron ore prices (China CFR) were marginally lower. Thermal coal prices were down ~1% WoW. Coking coal prices were up 4% WoW. China’s pellet import prices were marginally up WoW. Chinese graphite electrode prices declined 4% WoW.
Europe: HRC prices were down 2% WoW. CIS HRC export prices were up 1% WoW. Rotterdam scrap prices were up ~6% WoW.
China steel prices: Chinese local rebar and HRC prices were up ~2% WoW. Export prices of rebar were largely unchanged, while HRC prices increased by ~2% WoW.
Base metals: Aluminum (cash LME) prices were up ~1% WoW. Alumina prices were lower. Copper (cash LME) prices were down ~2% WoW. Zinc (cash LME) prices were up ~2% WoW. Lead (cash LME) prices were up ~6% WoW. Brent crude prices were down ~2% WoW.

29/01/2019 28 EN

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Motilal Oswal

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MOSL: METALS WEEKLY- India HRC steel product prices still 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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