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The consensus forecast is that U.S. industrial production advanced 0.4% in February while the capacity utilization rate improved to 78.5%. We’ll also get industrial production numbers for China, Germany, Great Britain, and India, while the Bank of Japan is set to make its latest monetary policy statement. And let’s not forget about Brexit. “UK prime minister Theresa May faces a crunch week on Brexit, with as many as three key votes in the House of Commons. Following last-ditch negotiations with Brussels, Mrs. May has promised to put a revised Brexit deal to a vote by MPs by the end of Tuesday. If it is defeated, she is then committed to holding a vote on Wednesday on whether or not the UK should leave the EU without a deal. With a majority of MPs likely to vote against such a no-deal Brexit, Mrs. May would then offer a third vote on Thursday on delaying the Brexit date, currently March 29.” In next week’s market report we’ll take a deep dive into the 2018 scrap trade figures and will provide an update on our commodities programming at our rapidly approaching 2019 ReMA Convention. Have a great week!
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