Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
Zinc prices lower ~5% on higher inventories; Alumina prices decline ~4%
* Indian steel:
Long product (TMT Mumbai) prices were unchanged WoW. Sponge iron prices were ~1% higher, while scrap prices declined ~2% WoW. Iron ore prices remained unchanged WoW. Pellet prices were higher ~3% WoW. Domestic HRC prices were ~1% lower WoW. Export price offers were lower, while import offers were higher.
* Raw materials:
Iron ore prices (China CFR) were ~2% lower WoW. Thermal coal prices declined ~1% WoW. Coking coal prices remained broadly unchanged. China's pellet import prices were ~1% higher WoW. Chinese graphite electrode prices were unchanged.
HRC prices were unchanged WoW. CIS HRC export prices were lower ~3%. Rotterdam scrap prices were up ~4% WoW.
* China steel prices:
Chinese HRC prices were lower ~1% while rebar prices declined ~2% WoW. Export prices for rebar increased ~1% WoW while export prices for HRC were unchanged.
* Base metals:
Aluminum (cash LME) was broadly flat WoW. Alumina prices decreased ~4% WoW. Copper (cash LME) was down ~1% WoW. Zinc (cash LME) decreased ~5% WoW given higher inventories. Lead (cash LME) was up ~1% WoW. Brent crude prices were up ~2% WoW.
To Read Complete Report & Disclaimer Click Here
For More Motilal Oswal Securities Ltd Disclaimer http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html SEBI Registration number is INH000000412
Above views are of the author and not of the website kindly read disclaimer