Motilal Oswal - MOSL: METALS WEEKLY-NMDC increases iron ore prices; Indian long steel product prices decline

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Motilal Oswal

MOSL: METALS WEEKLY-NMDC increases iron ore prices; Indian long steel product prices decline

METALS WEEKLY: NMDC increases iron ore prices; Indian long steel product prices decline

Indian steel: Long product (TMT Mumbai) prices were down ~1% WoW. Sponge iron prices were also down ~6% WoW, while scrap prices were down ~2% WoW. NMDC increased iron ore fines/lump prices by INR200/300 per ton. Pellet prices were marginally lower. Domestic HRC prices were up ~2% WoW. HRC import offers were unchanged.
Raw materials: Iron ore prices (China cfr) were up ~2% WoW. Thermal coal prices were marginally lower. Coking coal prices were down ~5% WoW. China's pellet import prices were unchanged. Chinese graphite electrode prices were marginally lower.
Europe: HRC prices were unchanged. CIS HRC export prices were down ~1% WoW. Rotterdam scrap prices were unchanged.
China steel prices: Chinese local rebar and HRC prices were marginally lower WoW. Export price of rebar was marginally lower, while HRC was down ~1% WoW.
Base metals: Aluminum (cash LME) prices were down ~1% WoW. Alumina prices were down another ~12% WoW. Copper (cash LME) prices were unchanged WoW. Zinc (cash LME) prices were up ~5%, while lead prices were unchanged WoW. Brent crude prices were up ~5% WoW.

03/10/2018 28 EN

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MOSL: METALS WEEKLY-NMDC increases iron ore prices; Indian long steel product prices decline

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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