· Metals: Copper +0.9% to $4.26lb, iron ore +8.9% to...

· Metals: Copper +0.9% to $4.26lb, iron ore +8.9% to US$148.60/t, Gold 0.0% to US$1,803/oz

· Energy: Brent crude +3.5% to US$71.2/bbl, WTI +2.9% to US$67.50/ bbl, thermal coal +1.9% to $165.3/t

· Keyovernight stock moves: BHP LND +1.3%, Rio Tinto LND +3.0%, S32 (LDN) +1.3%, Anglo +2.8%, Glencore +2.6%, Vale +5.6%, Alcoa +2.5%, Shell +0.9%, BP +1.3%, Exxon +0.8%, Chevron +1.1%, ConocoPhillips +1.1%

· GlobalIndices: S&P 500 +0.15%, DOW +0.09% & FTSE +0.24%

The iron ore price surged Tuesday on expectations arecovery in economic growth, including additional support from the Chinesegovernment, will boost demand for steel. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China were changing hands for $146.13 a tonne, up 7.3% from Monday’s closing. The most-traded Dalian iron ore contract for January 2022 delivery jumped 6.2% to 817.50 yuan a tonne, bouncing off a 7-1/2-month low hit on Friday. (Mining.com)

Iron ore surged on expectations a recovery in economicgrowth, including additional support from the Chinese government, will boostdemand for steel. Futures in Singapore rebounded as much as 8.7% as a potential boost to the U.S. vaccination drive lifted sentiment across assets from stocks to base metals. Separately, China’s central bank chief vowed to stabilize the supply of credit and boost the amount of money supporting smaller businesses and the real economy after both credit and economic growth slowed in July. In China, “people are hoping for some further stimulus targeting the infrastructure sector, as real estate and manufacturing are looking bleak,” said Erik Hedborg, principal analyst at CRU Group. “In the rest of the world, we are seeing steel production stabilizing at levels below pre-pandemic levels.” (Bloomberg)