Motilal Oswal: Further Hike In Steel Prices Indicates Strong Demand

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Domestic steel producers have raised hot rolled coil and cold rolled coil prices for October 2020 deliveries.Domestic HRC prices now stand at Rs 43,000-43,500/tonne whereas CRC prices stand at approximately Rs 52,000/tonne.On cumulative basis, steel mills have hiked HRC steel prices by Rs 7,000-7,500/tonne since July 2020.The improved demand outlook is driven by strong recovery in automotive, consumer durables and other white goods.We believe the robust demand in flat rolled steel is also driven by replenishing of inventories by end-users amidst tight supply of HRC, even as inventories remain low in the system.Further, export commitments of domestic steel mills for October 2020 delivery are further likely to keep the supply situation tight in India..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Motilal Oswal: Further Hike In Steel Prices Indicates Strong Demand

Motilal Oswal: Further Hike In Steel Prices Indicates Strong Demand

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