· Metals: Copper -1.1% to $4.39lb, iron ore +0.41% to...

· Metals: Copper -1.1% to $4.39lb, iron ore +0.41% to US$184.15/t

· Energy: Brent crude -0.7% to US$72.4/bbl, WTI -1.0% to US$70.6/ bbl

· Keyovernight stock moves: BHP LND +0.7%, Rio Tinto LND +1.0%, S32 (LDN) +0.4%, AAL +2.8%, GLEN +1.0%, Vale +2.5%, AA +2.5%, Shell +1.8%, BP +5.6%, XOM +1.1%, Chevron +1.0%, COP +2.3%

· GlobalIndices: S&P 500 +0.82%, DOW +0.80% & FTSE +0.34%

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Ironore futures advanced as investors assessed the outlook for steel production inChina after the country’s top leadership urged some easing of aggressivemeasures to cut carbon emissions, while pledging to ensure stability of supplyand prices.The call for a less aggressive approach in carbon-reduction policies at aPolitburo meeting Friday cooled market expectations over the scale of plannedsteel production cuts. “The market was worried that there would be a shift in emphasisin the policy on steel curbs after the signal from the Politburo, and panicsentiment prevailed,” Huatai Futures Co. analysts wrote in a note. (Bloomberg)

Fortescue Future Industrieshas agreed to collaborate with a Maori group on a major renewables-backedhydrogen project in New Zealand’s Southland region, targeting first productionin 2025.FFI will work with MurihikuHapu of Ngai Tahu on the project, which is subject to an initial assessment process and an investment decision by the Board of Fortescue Metals Group and New Zealand Investor Boards, the company said in a statement. “The project could enable the creation of a hub for hydrogen innovation in New Zealand and provide significant economic growth through regional and national hydrogen industry job creation, as well as diversifying and broadening New Zealand’s skilled workforce,” MurihikuUpoko, Ta TipeneO’Regan said in the statement. (Bloomberg)