Industrials (/lb): aluminum $0.95 (+1.2%), copper $3.08 (+1.9%), lead $1.08(+2.3%), molybdenum $7.14 (+0.0%); nickel $5.31 (+2.0%); zinc $1.41 (+1.5%);Precious (/oz): gold $1,309 (+0.1%), silver $17.39 (-0.3%); Steel (/mt): ChinaHRC $626 (+0.7%), SHFE Rebar $591 (+0.8%), MB Scrap Index $347 (+0.0%);Bulks: iron ore (/dmt) $76 (-1.0%), coking coal (/mt) $208 (+0.1%), freight (BCI)2,381 (-1.0%); Energy: Brent (/bbl) $52.00 (+0.2%), WTI (/bbl) $46.44 (-0.3%),natural gas (/mmBtu) $2.96 (+1.2%), thermal coal (/t) $97 (-0.7%).    Spot gold price reached a 9-month intraday high of $1,326oz as geopoliticaltensions between US and North Korea flared again after North Korea tested aballistic missile over Japanese territorial waters. President Trump warnedNorth Korea of a potential US retaliation and noted "all options were available"for US to respond. Demand for safe-haven assets rose as holdings in SPDRGold Trust, the world’s largest gold-backed ETF rose 1.1% DoD to 814t.    (Reuters)Market participants assess impact of Hurricane Harvey on scrap and steelmarkets. Similar to 2012’s Hurricane Sandy, US scrap prices could surge postthe storm as scrap outflow becomes temporarily constrained. Supply is alreadytight and damage is yet to be completely assessed. Eventually, the scrapgenerated will flow into the market. Scrap dealers noted that when a stormstrikes, light iron and shreddables come out first, followed by automobiles,non-ferrous grades and heavier steel. Platts' daily shredded scrap assessmentstood at $305-$320/t. (SBB)Global automotive market expected to grow 2-3% in 2017 to 96m units, perInternational Organization of Motor Vehicle Manufacturers. With ~15% ofglobal steel output used in transport, Asian mills are following European mills’lead in indexing steel prices to fluctuating raw material prices and passing onthe costs to carmakers, especially for coking coal. In Europe, raw materialslinkedsteel contracts have existed for several years and automotive companieshedge exposure to iron ore prices using derivatives. (SBB)India bans gold imports from South Korea after imports surge to evade taxes.    Under the Free Trade Agreement between the two countries, India couldimport duty-free gold but a 12.5% countervailing duty was imposed. After theGoods and Service Tax (GST) was imposed on July 1, countervailing duty wasabolished and only 3% GST was imposed, creating a profitable situation forimporting gold from South Korea, which led imports to surge to $339m fromJuly 1 to August 3 (vs. $70m in FY16). India’s total imports expected to reach850-950 tons by 2020, per World Gold Council. (Bloomberg Finance LP)China’s net imports of gold from Hong Kong reach a 4-month high of 71 tonsin July (+11t MoM, +9t YoY), per Hong Kong Census and StatisticsDepartment. (Bloomberg Finance LP)

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