Motilal Oswal - MOSL: METALS WEEKLY-Steel and its input prices moving up across the world

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Motilal Oswal

MOSL: METALS WEEKLY-Steel and its input prices moving up across the world

â€‹â€‹METALS WEEKLY: Steel and its input prices moving up across the world

Indian steel: Long product (TMT Mumbai) prices were marginally higher WoW. Sponge iron prices were up ~4% WoW while domestic scrap prices were up ~3% WoW. Domestic iron ore were unchanged. Pellet prices were marginally higher. Domestic HRC prices were up ~1% WoW, while import HRC price offers were unchanged.

Raw Materials: Iron ore prices (China cfr) were up ~2% WoW. Chinese iron ore port inventories were unchanged. Thermal coal prices were down ~2% WoW. Coking coal prices were up ~3% WoW on strong buying activity in China. China's pellet import prices were up ~1% WoW, as premium over iron ore remains strong.

Europe: HRC prices were up ~2% WoW, third consecutive week of increase. EU steel spreads improved on higher steel prices, offset partly by increase in iron ore and coking coal. CIS export HRC prices were up ~8% WoW. Rotterdam scrap prices were also up ~8% WoW.

China: local HRC prices were up ~3% WoW, while rebar prices were unchanged. Steel inventories were marginally higher. Export HRC/rebar prices were up ~1%/flat WoW, respectively.

Base metals: Aluminum (cash LME) was unchanged. Zinc (cash LME) was unchanged while lead was up ~3% WoW. Copper was up ~5% WoW. Crude oil (Brent) prices were up ~9% WoW.

01/08/2017 28 EN

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MOSL: METALS WEEKLY-Steel and its input prices moving up across the world

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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