In a nutshell: . STEEL: EU steel equities: what''s priced in? . SALZGITTER (-): Hot strip mill fire to tighten EU flat-rolled market . STEEL INDIA: ArcelorMittal India JV considers cutting production due to coke import restrictions . GLOBAL TRADE: Mexico initiates anti-dumping investigation into HRC imports from China and Vietnam . COPPER CHINA: SMM outlook - copper cathode production is expected to rose +4.0% m/m to 1.1mt in March . RIO TINTO (+): Closing of Arcadium and development of Brockman Daily prices as of March 5th / PRICE MOVERS . MACRO/COMMODITY WRAP: Another morning and another movement in tariffs as Trump has delayed newly imposed automakers levies on Mexico and Canada by a month. Given the recent weak macro prints coming from the US and growing concern of a slowing economy and rising inflation, the nonfarm payrolls figure tomorrow will be important to see if it flashes more strain and stress being put on the economy. Base metals mostly higher this morning this morning in trading on the SHFE; nickel -0.4%, copper +1.2%, aluminium +1.3%, zinc +1.6%. Mercuria (private) and Glencore (+) renewed a deal to buy copper from the DRC''s state miner according to Bloomberg. The two trading houses were allocated 50% (Mercuria) and 25% (Glencore) if CMOC''s (NR) Tenke Fungurume mine with the final 25% yet to be allocated. These are the same allocations as last year with Trafigura (private) getting the final 25% in 2024. The Tenke mine sold 409kt of copper and 24kt of cobalt last year. Iron ore futures trading just above USD 100/t (+0.5%) this morning in Singapore after ending 1% lower on Wednesday following announcements from the Chinese government that it would mandate (unquantified) steel production cuts. Gold (2,921/oz) steady this morning as the tariff turmoil continues to support its safe haven demand. . Macro data this week: US initial jobless claims (prev 242k) today, Eurozone 4Q24 GDP (consensus +0.9% y/y) and US nonfarm payrolls...