Metals &Mining Alert-Daily prices and news:US sets higher CVD on Turkish rebar

Industrials (/lb): aluminum $0.87 (+0.9%), copper $2.55 (0.0%), lead $0.95 (-2.4%), molybdenum $7.82 (+0.0%); nickel $4.14 (-1.2%); zinc $1.15 (-1.0%);Precious (/oz): gold $1,236 (+0.5%), silver $16.74 (+0.8%); Steel (/mt): ChinaHRC $471 (+0.3%), SHFE Rebar $433 (+0.2%), MB Scrap Index $267 (-1.1%);Bulks: iron ore (/dmt) $62 (+0.7%), coking coal (/mt) $162 (-3.6%), freight (BCI)1,632 (-1.7%); Energy: Brent (/bbl) $51.65 (-0.3%), WTI (/bbl) $48.66 (-0.4%),natural gas (/mmBtu) $3.23 (-3.6%), thermal coal (/t) $73 (-0.1%).

    US Commerce Department sets higher final anti-subsidy duty (CVD) of 16%(vs. 3% preliminary) on rebar imports from Turkish producer Habas. Also,Commerce assigns final antidumping duties (AD) of 5-8% and 206-209% onTurkey and Japan, respectively, largely in-line with preliminary result. In 1Q17,total rebar imports rose 12% YoY to 628k st, with Turkish imports up 11% to518k st (83% of total or 23% US market share). With Habas now facingcombined duty of 21% (vs. 9% prior), import arbitrage appears significantlyreduced and therefore should benefit US rebar mills