Pre-Trading Thoughts

Natural Gas Prices Not to Be Raised for Industrial Sector, ESRS is Sparkling. ESRS is perceived to be the stock that is most reactive to natural gas pricing news. ESRS is a key beneficiary of the current spreads between steel and raw material prices, in addition to the weakness in the local exchange rate. Provided that the government does not enforce one more round of lower prices on building material producers, we believe that the current global steel market dynamics and the local exchange r...