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.
Motilal Oswal Report
Various media reports suggest that the government may reconsider its stance on export duty on steel, iron ore, and pellets. This resulted in a 1-3% rally in steel companies on July 11, 2022. In the last one week, the BSE Metal index has risen by 5.4%.
Domestic hot rolled coil prices continue to trade at a discount of ~Rs 1,600/tonne to landed imports from FTA countries, while the premium to exports stood ~Rs 8,600/tonne.
Coking coal prices have corrected by 14% in the last one week and by 60% from its peak of $704/tonne on March 15, 2022, indicating normalisation of margins for steel companies in Q3 FY23.
As per media reports China is planning a stimulus of $220 billion (RMB 1.5 trillion) to jump start its slowing economy by preponing bond sales due in January 2023. This should help improve the sentiment for commodities.
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