3 June 2019
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Private miners hike iron ore prices again; pellet prices up ~7%
Long product (TMT Mumbai) prices declined ~1% WoW.
Sponge iron prices were ~2% WoW lower, while scrap prices remained
unchanged. Iron ore prices for Rungta increased WoW. This is the
second price hike over the past two weeks. Pellet prices rose 7% WoW.
Domestic HRC prices were unchanged WoW. Export and import price
offers were lower.
Iron ore prices (China CFR) decreased ~1% WoW. Thermal
coal prices were down ~7% WoW. Coking coal prices were ~2% lower.
China’s pellet import prices were slightly lower WoW. Chinese graphite
electrode prices were broadly unchanged.
CIS HRC export prices were ~2% higher WoW.
China steel prices:
Chinese HRC and rebar prices were ~1% lower WoW.
Export prices for HRC decreased ~1% WoW.
Aluminum (cash LME) prices were unchanged WoW. Copper
(cash LME) prices declined ~2% WoW. Zinc (cash LME) prices were ~1%
lower WoW. Lead (cash LME) prices declined ~2% WoW. Brent crude
prices were down ~6% WoW.
Investors are advised to refer through
important disclosures made at the last
page of the Research Report.
(Dhruv.Muchhal@MotilalOswal.com); +91 22 6129 1549/