· Metals: Copper +0.7% to $4.33lb, iron ore +3.83% to...

· Metals: Copper +0.7% to $4.33lb, iron ore +3.83% to US$145.05/t, Gold +1.0% to US$1,828/oz

· Energy: Brent crude -0.6% to US$72.6/bbl, WTI -1.0% to US$69.3/ bbl, thermal coal +1.7% to $178.50/t

· Keyovernight stock moves: BHP LND +0.6%, Rio Tinto LND 0.0%, S32 (LDN) +2.1%, Anglo +0.5%, Glencore +1.2%, Vale +0.1%, Alcoa +0.6%, Shell -1.5%, BP +-1.1%, Exxon -0.4%, Chevron -0.2%, ConocoPhillips -0.6

Market expect rebar price +RMB214/t and HRC +RMB142/t in Nov'21 from Aug avg. All mills were able to make profits this month
48%-97% of steel mills expect stable demand across flats/ longs, vs 3%-52% see rising demand, <1% expect demand drop in Sep
In Sep, rebar/HRC mills expect utilization to +0.3%/ -1.4% MoM, and sales to rebound by +7.8%/ +0.5% respectively

Se Seaborne iron ore prices rebounded amid optimism over a downstream peak season for steel with the 62% Fe Iron Ore Index at $145.05/dry mt CFR North China on Sept. 3, up $5.35/dmt from Sept. 2. Iron ore futures rebounded amid a jump in steel futures at the onset of the typical peak season for steel demand in September to October. (Platts)

Th The price of the steelmaking ingredients that generate billions of dollars of profit for the world’s biggest miners have diverged sharply, underscoring China’s grip on global commodity markets and hinting at a pick-up in iron. While iron ore has tumbled 40 per cent from its record high above $230 per metric tonne in May due to stricter enforcement of steel production curbs, the price of metallurgical coal imported into China soared, reaching $440mt this week, up from $230mt in May, according to an assessment from S&P Global Platts. The yawning price gap has left investors wondering if iron ore, which is more exposed to speculative activity than metallurgical coal because it is a more easily tradable market, has fallen too far and could rally. It was trading at $145 on Friday. (Financial Times)

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