16 October 2017
BSE Metals Index v/s Sensex
Note: Indexed to 100 on 9 Oct 2017
Stock performance table on pg 26
Investors are advised to refer through
important disclosures made at the last
page of the Research Report.
Long product (TMT Mumbai) prices were up ~2% WoW.
Sponge iron and domestic scrap prices were up ~1% WoW. Domestic iron
ore prices were unchanged. Pellet prices were lower. Domestic HRC prices
were unchanged, but import price offers fell ~2% WoW.
Iron ore prices (China cfr) were unchanged as the market
is quiet due to Chinese holidays. Chinese iron ore port inventories were
marginally lower, while Chinese import data for September were strong.
Thermal coal prices were unchanged. Coking coal prices were down ~2%
WoW. China’s pellet import prices were down ~4% WoW.
HRC prices were unchanged, but HRC product spreads were
marginally higher. CIS HRC export prices were down ~6% WoW. Rotterdam
scrap prices were up ~5% WoW.
Local HRC and rebar prices were unchanged. However, export HRC
and rebar prices were down ~2% and 3% WoW, respectively.
Aluminum (cash LME) prices were up ~1% WoW. Alumina
prices were up ~5% WoW due to bauxite supply disruption. Zinc (cash
LME) was unchanged. Lead was unchanged. Copper was up ~3% WoW.
Crude oil (Brent) prices were up ~3% WoW.
Alumina continues to rise due to bauxite supply disruption
(SanjayJain@MotilalOswal.com); +91 22 3982 5412 /