Motilal Oswal - MOSL: METALS WEEKLY-Indian iron ore miners increase prices

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Motilal Oswal

MOSL: METALS WEEKLY-Indian iron ore miners increase prices

METALS WEEKLY: Indian iron ore miners increase prices

Indian steel: Long product (TMT Mumbai) prices were up ~1% WoW. Sponge iron prices remained unchanged, while scrap prices were marginally lower. National Mineral Development Corporation (NMDC) raised iron ore lump/fines prices by INR150/t. A few domestic private miners also increased iron ore prices. Domestic hot rolled coil (HRC) prices were up ~1% WoW. HRC import offers were also higher by ~1% WoW.
Raw materials: Iron ore prices (China CFR) were down ~1% WoW. Thermal coal prices were up ~2% WoW. Coking coal prices were unchanged. China’s pellet import prices were up ~1% WoW. Chinese graphite electrode prices were up ~1% WoW.
Europe: HRC prices were up ~2% WoW. CIS HRC export prices were down ~1% WoW. Rotterdam scrap prices remained unchanged.
China steel prices: Chinese local rebar and HRC prices were unchanged WoW. Export prices of rebar remained unchanged, but HRC fell ~1% WoW.
Base metals: Aluminum (cash LME) was down ~1% WoW. Alumina prices were higher. Copper (cash LME) was up ~1% WoW. Zinc (cash LME) was down ~4%, while lead was up ~1% WoW. Brent crude prices were up ~2% WoW.

18/09/2018 28 EN

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MOSL: METALS WEEKLY-Indian iron ore miners increase prices

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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