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Published on 19/07/2019 9:16:34 AM | Source: Motilal Oswal Services Ltd

METALS WEEKLY: Indian long product prices continue to decline By Motilal Oswal

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

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METALS WEEKLY: Indian long product prices continue to decline

* Indian steel: Long product (TMT Mumbai) prices were 3% lower WoW. Sponge iron prices were ~1% lower, while scrap prices decreased ~3% WoW. Iron ore prices were unchanged WoW. Pellet prices were flat. Domestic HRC prices were unchanged WoW. Export price offers were higher.

* Raw materials: Iron ore prices (China CFR) decreased ~2% WoW. Thermal coal prices were broadly unchanged. Coking coal prices were ~3% lower WoW. China's pellet import prices were unchanged. Chinese graphite electrode prices declined ~1% WoW.

* Europe: CIS HRC export prices were unchanged WoW.

* China steel prices: Chinese HRC and rebar prices declined ~3% WoW. Export prices for HRC increased ~2%.

* Base metals: Aluminum (cash LME) prices were broadly unchanged WoW. Copper (cash LME) prices decreased ~2% WoW. Zinc (cash LME) prices were ~7% lower WoW. Lead (cash LME) prices decreased ~3% WoW. Brent crude prices were down ~3% WoW.

 

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