Cobalt prices have stabilised over the second quarter, after falling in the first quarter of the year; to average US$32,895/t, with the June end price of US$30,571/t.

Brent closed out August up 7.5% for a fifth successive monthly price rise. WTI logged a fourth monthly gain at 5.8% after hitting a five-month high of US$43.41/bbl on 26 August when Hurricane Laura made landfall in the Gulf of Mexico

The average Asian composite LNG spot price in August averaged US$2.89/MBtu, a strong 46% increase on July’s average, reflecting bullish sentiment leading into the winter peak demand season.

August saw the market end its fourth month of moving sideways, with the Premium HCC spot price averaging US$108/t for the month of August, little changed from July’s US$112/t, or indeed May’s US$113/t.

In the June quarter, global throughput fell by 11.5Mbpd to 69.5Mbpd, the lowest for any quarter in 17 years. But there was a robust rebound in China, fuelled by lower crude prices.

Thermal coal markets continued to decline in August, as the pandemic continues to wreak havoc on demand.

The iron ore spot price for 62% Fe Fines Spot Price CFR China averaged US$107.8/t in July, an increase of 5.2% from the previous month.

The Chinese domestic economy continues to power ahead as the rest of the world continues to struggle to overcome the hangover of the lockdown phase, and fight to contain the emerging second waves.

Both the US and China’s expanding manufacturing sectors urged on copper’s bullish run in August. China's Caixin manufacturing PMI increased to 52.8 from 51.2 in July, while the US manufacturing PMI reached 53.6 from 51.3 in July.

Top nickel producers in the Philippines said they expect to see no further disruptions to their operations for the rest of the year, amid rising prices in August.

Zinc prices rose in August as China's metals-intensive infrastructure spending continues to ramp up, as the country spends its way out of slowing post-Covid growth.

The hungry maw that is currently Chinese demand is seeing unusual things happen in the market at the moment.

Well what a month! – The start of August saw gold surge to an all-time high, sailing through the pivotal US$2,000 oz level on the back of mounting tensions between the United States and China and worrying rises in coronavirus infection rates.