Motilal Oswal - MOSL: METALS WEEKLY-India long steel product prices continue weakening

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Motilal Oswal

MOSL: METALS WEEKLY-India long steel product prices continue weakening

METALS WEEKLY: India long steel product prices continue weakening

Indian steel: Long product (TMT Mumbai) prices were down ~2% WoW. Sponge iron prices also declined ~2% WoW, while scrap prices were up ~1% WoW. Domestic iron ore prices were unchanged. Pellet prices were marginally lower. Domestic HRC prices were up ~1% WoW. HRC import and export offers were unchanged.
Raw materials: Iron ore prices (China cfr) were unchanged. Thermal coal prices were up ~2% WoW. Coking coal prices were up ~10% WoW. China's pellet import prices were unchanged. Chinese graphite electrode prices were marginally lower.
Europe: HRC prices were marginally lower. CIS HRC export prices were down ~1% WoW. Rotterdam scrap prices were unchanged.
China steel prices: Chinese local rebar and HRC prices were marginally lower WoW. Export prices of rebar and HRC were unchanged.
Base metals: Aluminum (cash LME) prices were up ~6% WoW. Alumina prices also increased sharply. This was driven by the closure of the Alunorte facility of Hydro. However, since then, it has got environment relaxation to operate the plant. Copper (cash LME) prices were unchanged WoW. Zinc (cash LME) prices were up ~3%, while lead prices were down ~2% WoW. Brent crude prices were up ~2% WoW.

09/10/2018 28 EN

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MOSL: METALS WEEKLY-India long steel product prices continue weakening

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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