Motilal Oswal - MOSL: METALS WEEKLY- Indian steel prices inched up; coking coal prices declining

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Motilal Oswal

MOSL: METALS WEEKLY- Indian steel prices inched up; coking coal prices declining

METALS WEEKLY: Indian steel prices inched up; coking coal prices declining

Indian steel inched up: Long product (TMT Mumbai) prices were up ~2% WoW. Sponge iron prices were up ~4% WoW while domestic scrap prices were up ~6% WoW. Domestic iron ore prices were unchanged. Pellet prices were marginally higher. Domestic HRC prices were marginally higher, but import and export offers were marginally lower.
Raw materials were weak: Iron ore prices (China cfr) were down ~1% WoW. Thermal coal prices were unchanged. Coking coal prices were down ~6% WoW. China’s pellet import prices were up ~1% WoW. Chinese graphite electrode prices were unchanged WoW.
Europe was weak: HRC prices were down ~2% WoW. CIS HRC export prices were unchanged. Rotterdam scrap prices were down ~2% WoW.
China was stable: Chinese local HRC and rebar prices were unchanged. Export rebars and HRC prices were marginally higher.
Base metals mixed trend: Aluminum (cash LME) was down ~9% WoW as the US provided temporary relief for sanctions against Rusal. Alumina prices were however unchanged. Copper (cash LME) was up ~2% WoW. Zinc was down ~4% WoW while lead down ~1% WoW. Brent crude prices were up ~1% WoW.

02/05/2018 28 EN

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MOSL: METALS WEEKLY- Indian steel prices inched up; coking coal prices declining

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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