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Published on 11/06/2019 12:06:33 PM | Source: Motilal Oswal Securities Ltd

Metals Sector - Steel prices remain weak By Motilal Oswal

Posted in Broking Firm Views - Sector Report| #Metals Sector #Motilal Oswal #Sector Report

 

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Steel prices remain weak

Indian steel:

Long product (TMT Mumbai) prices were down ~2% WoW. Sponge iron prices declined ~4%, while scrap prices were down ~3% WoW. Iron ore prices were unchanged WoW. Pellet prices were slightly lower WoW. Domestic HRC prices were unchanged WoW. Export prices were unchanged WoW, while import price offers were lower WoW.

 

Raw materials:

Iron ore prices (China CFR) increased ~1% WoW. Thermal coal prices were down ~2% WoW. Coking coal prices were ~3% lower WoW. China's pellet import prices decreased ~3% WoW. Chinese graphite electrode prices declined ~10% WoW.

 

Europe:

CIS HRC export prices were ~1% higher WoW.

 

China steel prices:

Chinese HRC and rebar prices were down ~2% and ~1% WoW, respectively. Export prices for HRC decreased ~1% WoW.

 

Base metals:

Aluminum (cash LME) prices were down ~2% WoW. Copper (cash LME) prices were broadly unchanged WoW. Zinc (cash LME) prices were ~2% lower WoW. Lead (cash LME) prices increased ~3% WoW. Brent crude prices were down ~2% WoW.

 

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