The following are the top stories on metals, agriculture and shipping. ECONOMIC EVENTS, AGRICULTURE REPORTS: Forecast Prior Time (N.Y.) GDP: Annual Revisions 8:30 Employment Cost Index 2Q 0.5% 0.6% 8:30 GDP QoQ (Annualized) 2Q A 1.8% 1.9% 8:30 Personal Consumption 2Q A 0.8% 2.2% 8:30 GDP Price Index 2Q A 2.0% 2.0% 8:30 Core PCE QoQ 2Q A 2.3% 1.6% 8:30 Chicago Purchasing Manager JUL 60.0 61.1 9:45 U. of Michigan Confidence JUL F 64.0 63.8 9:55 USDA Cattle Slaughter JUL 29 129000 14:00 USDA Hog Slaughter JUL 29 404000 14:00 Agriculture Prices Received JUL 34.1% 15:00 METAL PRICES: ($/ton) Last % Chg RSI Copper 9,785 -0.3 62 Aluminum 2,622 -0.6 59 Zinc 2,481 -1.6 60 Lead 2,641 -0.5 47 Nickel 24,551 0.0 64 Tin 28,300 -0.7 61 OTHER MARKETS: Last % Chg % YTD U.S. Dollar Index 74.454 +0.4 -5.8 Crude Oil $96.74 -0.7 +5.9 Gold $1,613.9 -0.1 +14 MSCI World Index 1,305.69 -0.5 +2.0 TOP STORY: BHP Chile Workers Vow to Prolong Strike at Biggest Copper Mine Workers at BHP Billiton Ltd.’s Escondida unit in Chile pledged to extend a weeklong strike that has halted shipments from the world’s biggest copper mine and helped push up prices of the metal. COMMODITY EXCLUSIVES: Eveready May Raise Battery Prices, Start New Products Sales (1) Eveready Industries Ltd., India’s biggest maker of batteries, plans to raise prices and sell new products to reverse four straight quarters of profit decline. Biggest Pig Farmer to Sell First Bond in 4 Years: Russia Credit Miratorg, Russia’s largest pork producer, is planning its first bond sale since 2007 this month as the biggest grain harvest in four years lures investors to higher-yielding agricultural debt. India Refiners Said to Open Bank Accounts to Pay Iran Via Turkey Indian refiners, seeking to end an impasse over payments for Iranian crude oil, opened accounts with state-owned Union Bank of India Ltd. to route money through a lender in Turkey, two people with direct knowledge of the matter said. African Wind, Hydro, Cook Stoves May Benefit From New CO2 Rule Wind turbines, hydro-electric dams and efficient cooking stoves in Africa and other countries may attract up to $1 billion in investment, according to ClimateCare after the United Nations agreed on new carbon market rules that may grant such projects more emissions credits. McDonald’s to Open a Restaurant a Day in China in Four Years (1) McDonald’s Corp., the world’s largest restaurant chain, should open an outlet a day in China as it challenges Yum! Brands for dominance in Asia’s largest economy as rising salaries boost spending on fast food. Sugar Exports From India at Four-Year High May Cool Prices (1) Sugar exports from India, the second-biggest producer, may surge to the highest level in four years next season as output exceeds domestic demand, potentially cooling a rally in global prices. Nickel Surplus to Narrow on China’s Demand, Sumitomo Says (1) A global nickel surplus may narrow on increasing stainless- steel demand from China and as new mining projects have stalled, limiting a decline in prices, said Sumitomo Metal Mining Co., Japan’s top producer. China Gold Demand May Surpass India This Year, Goldcorp Says (1) Demand for physical gold in China may exceed consumption in India by the end of this year, said Chuck Jeannes, chief executive officer of Goldcorp Inc., the world’s No. 2 producer of the metal by market value. INDUSTRIAL METALS: Copper May Fall on Concern About Potential U.S. Debt Default Copper may fall in London, trimming a second monthly gain, on concern about a potential U.S. default after lawmakers failed to reach agreement on raising the debt ceiling. Copper Inventories in Shanghai Rise Third Week; Aluminum Drops Copper stockpiles monitored by the Shanghai Futures Exchange increased for a third week, while aluminum inventories declined to a 23-month low. MINING: Ukraine Coal Miners Trapped by Deadliest Blast Since 2007 (3) Ukrainian authorities are working to free nine workers trapped after an explosion at a coal mine owned by the country’s richest man, Rinat Akhmetov, which killed 17 in the deadliest such accident since 2007. Exxaro to Close Unprofitable Zincor Refinery, Fire Workers (1) Exxaro Resources Ltd., the second-biggest South African coal producer, plans to close the Zincor refinery in the country and may fire workers at the plant after failing to turn a profit or find a buyer. Anglo American’s Profit Rises 41%; CEO Sees Cost ‘Headwinds’ (2) Anglo American Plc, part-owner of the world’s biggest platinum and diamond producers, said first-half profit rose 41 percent, missing estimates, as it confronts “very strong headwinds” on costs. Mitsubishi Says Will Meet Profit Target, Sojitz May Exceed Mitsubishi Corp., Japan’s largest trading company, said it will meet its annual profit target even after lower coal sales contributed to a 18 percent cut in first quarter profit. Vedanta Quarterly Profit Climbs to Record as Prices Advance (1) Vedanta Resources Plc, the largest copper producer in India, said fiscal first-quarter profit rose 33 percent to a record as commodity prices increased. Anglo American First-Half Profit Rises 41% on Metal Gains (1) Anglo American Plc, part-owner of the world’s biggest platinum and diamond producers, said first-half profit rose 41 percent as metal and gem prices gained. PRECIOUS METALS: Gold May Fall in London as Rally to Record Spurs Investor Sales Gold may decline in London as a rally to a record this week on debt concerns in the U.S. and Europe prompts some investors to sell the metal. AGRICULTURE: Palm Oil Drops on Concern U.S. Debt Stalemate May Lower Demand Palm oil had its first weekly loss in four on speculation that the stalemate in the U.S. over raising the debt limit to avoid a default may hurt global demand for commodities. Corn Drops on Speculation U.S. Rainfall Will Curb Crop Stress Corn dropped in Chicago, paring the first monthly gain in three, on speculation rainfall in U.S. growing areas will curb stress caused by heat and dryness. Soybeans Gain on Optimism China Demand May Expand on Feed Use Soybeans advanced for the first time in three days on expectation that demand in China, the world’s biggest importer and consumer, may increase as the country’s hog herds expand, boosting consumption of animal feed. Sugar Falls as Surplus May Become Available; Coffee Advances Sugar fell for a third day in London to the lowest level in more than a week on speculation a projected surplus for the coming season will soon be available. Coffee advanced. Japan Buys 9,050 Tons of Food Wheat From Australia in Tender (1) Japan bought 9,050 metric tons of food wheat from Australia in a tender today, the Ministry of Agriculture, Forestry and Fisheries said in a statement. Rubber Drops for Second Day as U.S. Debt Impasse Curbs Demand Rubber declined for a second day, paring a monthly advance, as U.S. lawmakers failed to make progress on a deal to raise the nation’s debt ceiling, curbing investor appetite for the commodity used to make tires. SHIPPING: Supertankers Storing Oil Rise by One to Six, ICAP Shipping Says The number of “international” supertankers storing crude oil rose by one to six, ICAP Shipping International Ltd. said in a report today. Another of the vessels that has been booked to store gasoil off Singapore has yet to start doing so, it said. Tropical Storm Don May Strengthen Before Texas Landfall (1) Tropical Storm Don may experience “some strengthening” before making landfall on the Texas coast later today, the National Hurricane Center said. Pirates Took 1,090 Sailors Hostage Last Year, Ship Flaggers Say Pirates took 1,090 sailors hostage last year, the world’s three biggest flag states that register vessel ownership said. Crude Tanker Sails From Offshore Libya to Sardinia, Data Show The Captain X. Kyriakou, an oil tanker able to haul about 1 million barrels of crude, is now off Sardinia, having previously signaled its position off Libya, according to ship-tracking data compiled by Bloomberg. ECONOMIES: HSBC Recommends Buying Chinese Stocks as Inflation May Ease (1) Chinese stocks will outperform the rest of Asia this year as inflation slows in the world’s second- biggest economy and the political stalemate over U.S. debt ends, according to HSBC Holdings Plc. China Should Buy U.S. Stocks Over Treasuries, Economist Xie Says China should buy U.S. stocks instead of Treasuries as they may be safer investments amid concerns about a U.S. debt default or credit-rating downgrades, according to Andy Xie, an independent economist. Auction Demand Weakest in a Year on Cash Crunch: China Credit Demand at China’s government debt sales was the weakest in at least a year this month as higher reserve-requirement ratios left financial companies with fewer funds to invest in the securities. Treasury May Adopt ‘Risky’ Payment Plan as U.S. Deadline Nears The U.S. is approaching the moment it may have to decide which bills to pay, a prospect Treasury Secretary Timothy F. Geithner has called “unacceptably risky and unfair” to Americans. U.S. Contingency Plan Said to Give Priority to Bondholders (2) The U.S. Treasury will give priority to making interest payments to holders of government bonds when due if lawmakers fail to reach an agreement to raise the debt ceiling, according to an administration official. German Retail Sales Surged in June as Unemployment Declined (1) German retail sales surged the most on record in June as falling unemployment boosted household purchasing power. OTHER MARKETS: Stocks Fall, Franc Gains on House Vote Delay; Default Risk Rises Stocks fell, the Swiss franc and yen strengthened and the cost of U.S. default insurance rose to the highest since March 2009 as American lawmakers called off a vote to increase the debt limit. Yen, Franc Gain on U.S. Debt Limit, Euro Drops on Spain Rating The yen and Swiss franc rose versus most of their currency peers as Moody’s Investors Service said it may cut Spain’s credit ranking and U.S. lawmakers delayed voting on a plan to raise the debt limit to avert a default. Asian Currencies Strengthen This Week on Rising Interest Rates Asian currencies completed a second weekly gain, led by the Philippine peso and India’s rupee, on speculation the region’s growth outlook and rising interest rates will attract foreign funds. European Stocks Retreat as U.S. Lawmakers Cancel Debt-Limit Vote European stocks slid, extending the Stoxx Europe 600 Index’s monthly drop, as U.S. lawmakers called off a vote on a Republican plan for raising the nation’s debt ceiling. Asian shares and U.S. index futures declined. Company Debt in Europe Will Slide to 1996 Low: Chart of the Day European corporate indebtedness will slide to the lowest level in 16 years in 2012, a signal that the two-year-old rally in the region’s stocks will extend its gains, according to Societe Generale SA. Oil Falls, Heads for Weekly Drop, on U.S. Debt Ceiling Dispute Oil fell, headed for the first weekly decline in five, on concern a failure to reach a deal on raising the U.S. debt limit may cause the nation to default, threatening the economy of the world’s biggest crude consumer. House Bids to Salvage Boehner Bill as Aug. 2 Deadline Nears (1) House Republican leaders, four days before a threatened U.S. default and facing stiff resistance within their ranks to raising the U.S. debt ceiling, plan to make a second try at passing legislation that is headed for a Senate roadblock. Berlusconi Survives Confidence Vote as Italian Yields Surge (2) Italian Prime Minister Silvio Berlusconi survived a confidence vote on a bill critics say will help shield him from prosecution, ending a week of turmoil after bond yields rose on speculation Finance Minister Giulio Tremonti may quit. UN Tribunal Reveals Identity of Suspects in Hariri Killing (1) The United Nations tribunal investigating the 2005 killing of former Lebanese Prime Minister Rafiq Hariri eased the confidentiality of its indictment by naming the four men charged in the case. SPORTS: Inter Milan Preparing $65 Million Tevez Bid, Sun Says: Roundup The following is a roundup of soccer stories from U.K. newspapers, with clickable links to the Web. DiBenedetto Group’s Takeover of Roma Club Said to Be Delayed A group of U.S. investors led by Boston Red Sox partner Thomas DiBenedetto and UniCredit SpA will extend the deadline to purchase Italian soccer club AS Roma, according to two people familiar with the matter. Tiger Woods Resumes Pursuit of Nicklaus, Returns at Bridgestone Tiger Woods will return to tournament play at next week’s World Golf Championships event in Ohio, more than two months after withdrawing from the Players championship with knee and ankle injuries. To contact the editor responsible for this story: Stuart Wallace in London at swallace6@bloomberg.net

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