Motilal Oswal - MOSL: METALS WEEKLY-Indian steel prices are firm; Base metals higher

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Motilal Oswal

MOSL: METALS WEEKLY-Indian steel prices are firm; Base metals higher

METALS WEEKLY: Indian steel prices are firm; Base metals higher

Indian steel: Long product (TMT Mumbai) prices were up ~1% WoW. Sponge iron prices were up ~3% WoW, while domestic scrap prices were up ~3% WoW. Pellet prices were unchanged. Domestic iron ore prices were also unchanged. Domestic HRC prices were unchanged, but export price offers were higher. Import HRC prices were unchanged.
Raw materials: Iron ore prices (China cfr) were unchanged amid thin trading ahead of Chinese holidays. Thermal coal prices were down ~2% WoW. Coking coal prices were up another ~2% WoW amid risk of weather disruption in Australia and logistics issues in China. China’s pellet import prices were unchanged.
Europe: HRC prices were up ~2% WoW. Resultantly, steel spreads improved. CIS HRC export prices were up ~3% WoW. Rotterdam scrap prices were unchanged.
China: Local and export steel rebar and HRC prices were unchanged, as trading was thin due to Chinese holidays.
Base metals: Aluminum (cash LME) rose ~2% WoW, while inventories were also higher. Alumina was lower by ~2% WoW. Copper (cash LME) was up ~6% WoW. Zinc was up ~5% WoW, while lead was up ~4% WoW. Brent crude prices were up ~3% WoW.

20/02/2018 28 EN

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MOSL: METALS WEEKLY-Indian steel prices are firm; Base metals higher

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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