· Metals: Copper -2.7% to $4.20lb, iron ore -1.85% to...

· Metals: Copper -2.7% to $4.20lb, iron ore -1.85% to US$159.50/t

· Energy: Brent crude -0.6% to US$69.1/bbl, WTI -1.0% to US$66.6/ bbl, Thermal coal -1.9% to US$166.7/t

· Keyovernight stock moves: BHP LND +3.4%, BHP ADR -7.9%, Rio Tinto LND -1.0%, S32 (LDN) +0.1%, Anglo -0.5%, Glencore -1.6%, Vale -1.5%, Shell +1.6%, BP +1.5%, Exxon -0.7%, Chevron -0.2%, ConocoPhillips -0.5%

Seaborne iron ore prices continued to decline yesterdayamid poor demand outlook with the 62% Fe Iron Ore Index at $159.5/dry mt CFR North China on Aug. 17, down $3/dmt from Aug. 16. Market sources saw premiums trending lower for mainstream medium-grade fines such as Pilbara Blend Fines, or PBF, and Newman High Grade Fines, or NHGF. According to sources, aggregated iron ore stocks in the value chain, including those on water and at the Chinese ports and mills, were at a high level currently, relative to the same period in the last two years. This pointed to excess supply and subdued demand, the sources added. Iron ore stocks in the value chain typically start to rise seasonally from July, as Chinese mills carry out maintenance in the summer. (Platts)

Andrew Forrest’s upstart green energy arm has long-termplans to produce 50 million tonnes a year ofrenewable clean hydrogen, making it equivalent to the output of some of theworld’s largest oil and gas companies. In a speech to be given to a ¬webinar hosted by the Clean Energy Council on Wednesday, Dr Forrest said Fortescue Metals Group subsidiary Fortescue -Future Industries would be producing 15 million tonnes of renewable green hydrogen a year by 2030. He said this would increase to 50 million tonnes a year over time, “a scale equal to the very largest oil and gas companies today”, which would help “build Australia into the renewable green hydrogen superpower of the world”. Dr Forrest said FFI had reached agreements with countries all over the world to develop “significant energy sources” to produce renewable green hydrogen. This follows two major overseas trips by Dr Forrest and FFI executives – last year and earlier this year. (The Australian)