15.5 C
New York
Saturday, October 1, 2022

Buy now

spot_img

Metals Sector Check – Coking Coal Prices Surge On India Demand Amid Slowdown In China: Motilal Oswal


BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Premium hot coking coal shot up 16% week-on-week to $258/tonne CNF Paradeep on renewed demand from India. With a pick-up in the pace of production after maintenance shutdowns at a few mills, demand for both hot coking coal and soft coking coal have been robust.

Aluminum prices are expected to remain stable to high as heat wave in China reduced hydroelectric power generation in the Sichuan province and available electricity is steered away from power intensive industries  China continued with small doses of economic stimulus, with a sudden 10 bps cut in lending rates by People’s Bank of China.

This points to an acceptance of a slowdown in China and efforts to revive demand by easing money supply. We believe concrete measures are needed to revive the Chinese economy, in addition to a rethink on their zero Covid strategy.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime 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 author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.





Source link

Related Articles

Stay Connected

0FansLike
3,509FollowersFollow
0SubscribersSubscribe
- Advertisement -spot_img

Latest Articles