· Metals: Copper -0.9% to $4.54lb, iron ore -1.23% to...

· Metals: Copper -0.9% to $4.54lb, iron ore -1.23% to US$200.45/t

· Energy: Brent crude +0.2% to US$74.7/bbl, WTI -0.4% to US$71.7/ bbl

· Keyovernight stock moves: BHP LND -0.5%, Rio Tinto LND -1.1%, S32 (LDN) -0.9%, AAL +0.5%, GLEN -0.8%, Vale -1.6%, AA -1.8%, Shell 0.0%, BP -0.3%, XOM -1.1%, Chevron -0.3%, COP -0.9%

· GlobalIndices: S&P 500 -0.47%, DOW -0.24% & FTSE -0.42%

Seaborne iron ore fines prices dropped further aspremiums slid for medium-grade fines with the 62% Fe Iron Ore Index at$200.45/dry mt CFR North China on July 27, down$2.50/dmt from July 26. Premiums for medium-grade fines were pressured by thin buying interest from Chinese steelmakers. Apart from PBF, the market sentiment was bearish across products, from high- to low-grade fines with the production cuts having “a real impact on overall iron ore demand," said a Chinese source. (Platts)

China is considering imposing more tariffs on steelexports as it seeks to achieve twin goals of capping domestic production andtaming the surging prices that have fanned concerns about inflation. Futures dropped. Potential rates being discussed range from 10% to 25% and products include hot-rolled coil, according to two people familiar with the matter, who asked not to be identified because they’re not authorized to speak to the media. Officials are seeking to implement the levies in the third quarter, though they’re still subject to final approval, one of the people said. The world’s biggest steel industry already scrapped rebates on export taxes and raised tariffs on some products from the start of May to keep more supply at home. The new levies will target some products not covered by the earlier round, according to one of the people. (Bloomberg)