Motilal Oswal - MOSL: METALS WEEKLY-Indian rebar and zinc LME prices decline sharply

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Motilal Oswal

MOSL: METALS WEEKLY-Indian rebar and zinc LME prices decline sharply

METALS WEEKLY: Indian rebar and zinc LME prices decline sharply

Indian steel: Long product (TMT Mumbai) prices were down ~5% WoW due to seasonal weakness. Sponge iron prices were down ~2% WoW, while scrap prices were down ~5% WoW. NMDC raised iron ore prices by ~INR150/t. Pellet prices were unchanged. Domestic HRC prices were marginally lower. HRC import offers were unchanged, but export offers declined.
Raw materials: Iron ore prices (China cfr) were down ~1% WoW. Thermal coal prices were up ~2% WoW. Coking coal prices were down ~9% WoW. China's pellet import prices were up ~9% WoW. Chinese graphite electrode prices were marginally lower WoW.
Europe: HRC prices were up ~3% WoW on talks of trade supports. CIS HRC export prices were unchanged. Rotterdam scrap prices were down ~1% WoW.
China steel prices: Chinese local HRC and rebar prices were higher due to concerns about supply cuts. Export rebar prices were up ~1% WoW, while HRC prices were down ~1% WoW.
Base metals: Aluminum (cash LME) prices were unchanged. Alumina prices were higher. Copper (cash LME) prices were down ~3% WoW. Zinc (cash LME) prices were down ~6%, while lead prices were down ~7% WoW. Brent crude prices were down ~2% WoW.

17/07/2018 28 EN

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Motilal Oswal

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MOSL: METALS WEEKLY-Indian rebar and zinc LME prices decline sharply

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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