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Systematix Report
The pricing buoyancy in metals and allied raw materials witnessed in H2 FY21 has flowed through Q1 FY22.
Demand has recovered steadily and pricing of most metals is now much higher than in Q1 FY22; exit prices are also above the Q1 FY22 averages and significantly higher year-on-year, implying sustained strong near-term earnings growth momentum.
International benchmark sea-borne iron ore prices rose sharply towards the end of November and are largely flat since January.
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