22 April 2019
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.
Iron ore prices (China CFR) were ~2% lower WoW. Thermal
BSE Metals Index v/s Sensex
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.
Aluminum (cash LME) was broadly flat WoW. Alumina prices
Note: Indexed to 100 on 15 April 2019
decreased ~4% WoW. Copper (cash LME) was down ~1% WoW. Zinc (cash
LME) decreased ~5% WoW given higher inventories. Lead (cash LME) was
Investors are advised to refer through
up ~1% WoW. Brent crude prices were up ~2% WoW.
important disclosures made at the last
page of the Research Report
(SanjayJain@MotilalOswal.com); +91 22 6129 1523 /
Zinc prices lower ~5% on higher inventories; Alumina prices decline