FMG 1.60% $21.94 fortescue ltd

· Metals: Copper 0.0% to $4.35lb, iron ore +0.68% to...

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    · Metals: Copper 0.0% to $4.35lb, iron ore +0.68% to US$171.20/t

    · Energy: Brent crude -0.8% to US$70.7/bbl, WTI -1.2% to US$68.3/ bbl

    · Keyovernight stock moves: BHP LND +0.1%, Rio Tinto LND +0.1%, S32 (LDN) +0.5%, Anglo +0.5%, Glencore +0.4%, Vale -0.2%, Shell +0.1%, BP +0.6%, Exxon +1.2%, Chevron +0.7%, ConocoPhillips +1.0%

    · GlobalIndices: S&P 500 +0.17%, DOW +0.41% & FTSE +0.04%

    Upcoming conferencecall:

    10th Aug 2021: GlobalMetals & Mining: Conference call: Global iron ore and China steel outlook: Clickhere to obtain your personal identification number (PIN) and add this conference call to your calendar.


    Seaborne iron ore pricespicked up slightly Aug. 6 after the recent slump as the lower prices enticedsome demand with the 62% Fe Iron Ore Index at $171.20/ dry mtCFR North China on Aug. 6, up $1.15/dmt from Aug. 5. Market participants expected the price spreads among ironore fines to narrow with weaker prices for premium ores and firmer prices fordiscounted ores, as some China-based steelmakers were more tolerant ofimpurities, including alumina, to control pig iron outputs. (Platts)


    China’s steelmakers are beingtold to supply data on greenhouse gas emissions, as authorities prepare to addthe heavily pollutive industry to the country’scarbon market. Companies have until Aug.14 to provide details to the China Iron and Steel Association, which has beencommissioned by the Ministry of Ecology and Environment to study plans andgather information, the industry group said in a statement. The steel sectoraccounts for about 15% of China’s total emissions, making efforts to clean upthe industry critical in achieving President Xi Jinping’s goal to reach carbon neutrality by 2060. China Baowu Steel Group Corp., the country’s top producer, is aiming to peak emissions by 2023 and last month agreed to launch a 50 billion yuan ($7.7 billion) fund with three partners to invest in decarbonization. (Bloomberg)


 
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