Motilal Oswal - MOSL: METALS WEEKLY-Steel and RM prices falling off a cliff-base metals stable-lead jumps 9%

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Motilal Oswal

MOSL: METALS WEEKLY-Steel and RM prices falling off a cliff-base metals stable-lead jumps 9%

â€‹METALS WEEKLY: Steel and RM prices falling off a cliff; base metals stable; lead jumps 9%

Indian steel: Long product (TMT Mumbai) prices were unchanged WoW. Sponge iron prices were down ~3% WoW, while domestic scrap prices remained unchanged. Pellet prices were higher. Domestic HRC prices were down 2% WoW due to weak demand, but import HRC price offers were unchanged.
Raw materials: Iron ore prices (China cfr) were down ~12% WoW due to concerns about winter cuts impact on demand in China. Chinese iron ore port inventories were lower. Thermal coal prices were unchanged. Coking coal prices were down ~3% WoW. China's pellet import prices were down ~4% WoW.
Europe: HRC prices were up 2%. HRC product spreads have increased on lower raw material prices. CIS HRC export prices were down ~1% WoW. Rotterdam scrap prices were down ~8% WoW, following ~3% decline in the previous week.
China: Local HRC and rebar prices were down ~3% WoW. Export HRC prices were unchanged.
Base metals: Aluminum (cash LME) prices were up ~4% WoW. Alumina prices were up ~3% WoW. Zinc (cash LME) was up 3% WoW. Lead was up ~9% WoW. Copper was unchanged. Crude oil (Brent) prices were up ~2% WoW.

26/09/2017 28 EN

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Motilal Oswal

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MOSL: METALS WEEKLY-Steel and RM prices falling off a cliff-base metals stable-lead jumps 9%

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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