Motilal Oswal - MOSL: METALS WEEKLY-Long product prices in India decline due to seasonal weakness

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Motilal Oswal

MOSL: METALS WEEKLY-Long product prices in India decline due to seasonal weakness

METALS WEEKLY: Long product prices in India decline due to seasonal weakness

Indian steel: Long product (TMT Mumbai) prices were down ~2% WoW due to seasonal weakness. Sponge iron prices were unchanged, while scrap prices were marginally lower. Domestic iron ore and pellet prices were unchanged. Domestic HRC prices were down ~1% WoW. HRC import price offers were also lower, but export prices were unchanged.
Raw materials: Iron ore prices (China cfr) were up ~1% WoW. Thermal and coking coal prices were down ~2% WoW. China’s pellet import prices were up ~2% WoW. Chinese graphite electrode prices were lower WoW.
Europe: HRC prices were up ~4% WoW, aided by news flows around safeguard duty. CIS HRC export prices were up ~2% WoW. Rotterdam scrap prices were down ~1% WoW.
China prices stable: Chinese local HRC and rebar prices were unchanged. Export rebar prices were up ~1% WoW, while HRC prices were down ~1% WoW.
Base metals: Aluminum (cash LME) prices were up ~1% WoW. Alumina prices were unchanged. Copper (cash LME) prices were down ~2% WoW. Zinc (cash LME) prices were also down ~2%, while lead prices were up ~2% WoW. Brent crude prices were up ~5% WoW.

03/07/2018 28 EN

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Motilal Oswal

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MOSL: METALS WEEKLY-Long product prices in India decline due to seasonal weakness

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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