Metals: Copper +4.2% to $4.59lb, iron ore +0.50% to...

Metals: Copper +4.2% to $4.59lb, iron ore +0.50% to US$202.95/t

Energy: Brent crude +1.0% to US$74.8/bbl, WTI -0.2% to US$71.9/bbl

Key overnight stock moves: BHP LND +3.1%, Rio Tinto LND +3.1%, S32 (LDN) +2.2%, AAL +3.2%, GLEN +3.3%, Vale +2.7%, AA +5.1%, Shell +2.5%, BP +2.9%, XOM +2.5%, Chevron +2.1%, COP +2.8%

Global Indices: S&P 500 +0.24%, DOW +0.24% & FTSE -0.03%

Iron ore prices rebounded on Monday after a five-day slump, due to a recovery in steel margins in China. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $202.74 a tonne on Monday, up 0.7% from Friday’s closing. The most-traded September iron ore contract on China’s Dalian Commodity Exchange ended daytime trading 0.9% higher at 1,136.50 yuan ($175.22) a tonne. Dalian iron ore marked its steepest weekly drop in 17 months on Friday due to worries about China’s steel production caps. Steel producers in Anhui, Gansu, Fujian, Jiangsu, Jiangxi, Shandong, and Yunnan have been told to limit their output to 2020 volumes amid China’s intensified efforts to curb carbon emissions. (Mining.com)