The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0625 ET - Thyssenkrupp shares are weighed down by geopolitical turmoil and uncertainty around negotiations, Jefferies analysts write. The German conglomerate's shares have dropped around 25% since the Iran conflict broke out due to sensitivity to macro shocks, the analysts say. Meanwhile, the group's agreement with the workers' union and sale of its 50% stake in Huettenwerke Krupp Mannesmann mark tangible progress, but the steel business continues to absorb significant capital and balance sheet resources, the analysts add. Recent indications of interest from Flacks Group as a potential bidder underscore that the divestment process might prove more complex than anticipated, they add. The exit from HKM and interest from a new bidder should catalyze the steel business's reorganization, they say. Shares trade 0.2% lower at 7.788 euros. (nina.kienle@wsj.com)
0608 ET - Palm oil ended higher on stronger crude oil prices and higher export estimates, says David Ng, a trader at Kuala Lumpur-based Iceberg X. The market is expecting higher exports due to the recent Middle East conflict, which has been forcing importers to secure shipment amid the uncertainty as well as the price discount of palm oil, he adds.The trader sees prices supported above 4,500 ringgit a ton and resistance at 4,780 ringgit. The Bursa Malaysia Derivatives contract for June delivery closed 82 ringgit higher at 4,654 ringgit a ton.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
0456 ET - Aluminum prices continue to trade above $3,400 a metric ton as supply disruptions in the Middle East constrain exports of the metal and supplies of alumina feedstock. Aluminium Bahrain, operator of the world's largest single-site aluminum smelter, suspended 19% of its production capacity due to ongoing supply-chain disruptions in the Strait of Hormuz. "Beyond supporting outright prices, it should keep regional premiums elevated," analysts at ING say. "Any price pullbacks are likely to be shallow, with tight spot availability continuing to underpin both prices and premia." In early trading, LME three-month aluminum slips 0.7% to $3,416 a ton, but is up more than 12% on the month. (giulia.petroni@wsj.com)
0351 ET - Gold prices fall 1% in early trading, as rising energy prices raise concerns around U.S. interest-rate cuts and support the dollar. This week, the Federal Reserve is expected to hold rates steady for a second straight meeting, though markets will closely watch Fed Chair Jerome Powell's remarks for cues on the path forward. The international oil benchmark, Brent crude, remains above $100 a barrel, stoking inflation fears and dampening hopes for further rate cuts. In early trading, gold futures in New York are down 1% to $5,009.90 a troy ounce. Silver, meanwhile, is down 2.6% to $79.22 an ounce. (giulia.petroni@wsj.com)
0335 ET - Oil prices rise, with Brent crude at $105 a barrel despite President Trump's calls for other nations to help safeguard the Strait of Hormuz. Brent rises 2.5% to $105.77 a barrel after reaching $106.50 earlier in the session, while WTI is up 1.7% to $94.06 a barrel. Over the weekend, the U.S. launched strikes on Kharg Island--the site of Iran's main oil terminal--though oil facilities weren't damaged. "It still poses supply risks, particularly given that Iranian oil is about the only oil moving through the Strait of Hormuz," ING analysts say. "Targeting Iranian oil infrastructure only increases the risk that Iran will further target regional energy infrastructure." Meanwhile, the IEA said oil reserves from Asian and Oceanic countries will be released immediately, while stocks from Europe and the Americas will start flowing by the end of March. (giulia.petroni@wsj.com)
0225 ET - The impact of geopolitical events on markets and the macro outlook hinges more on when transits through the Strait of Hormuz begin to normalize than on when hostilities end, Pepperstone's Michael Brown says in a note. "The longer the strait is impassable, the tighter commodity supply will become, thus the higher prices will likely go, and the greater the inflationary impulse that will follow," the senior research strategist says. Still, the timing of the two need not coincide, "though we all clearly hope that conflict does indeed end sooner rather than later." While the Middle East crisis remains the key driver for markets, some central bank meetings will also get attention this week. (emese.bartha@wsj.com)
0222 ET - Spot gold prices holding above $5,000 a troy ounce could be key for its near-term price direction, says Pepperstone's Dilin Wu in a note. If the $5,000 level is decisively breached, the yellow metal's price could fall further to the $4,850-$4,900 support zone, the research strategist says. However, if gold stabilizes, the next resistance levels to watch would be $5,100 and $5,250, he says. A strong dollar and leveraged long liquidations are likely to pressure gold, while institutional and central bank buying provide support, he says. Escalating geopolitical tensions or a hawkish Federal Reserve could trigger greater volatility, he notes. Spot gold rises 0.3% to $5,032.24 a troy ounce. (megan.cheah@wsj.com)
2319 ET - Iron ore is lower in early Asian trading. The black metal's price has been strong, and investors may take profit at elevated levels, Nanhua Futures analysts say in a research note. They point out that inventories at ports remain high. Although supply has declined slightly due to weather, it remains within a normal range, they say. The most-traded iron-ore contract on the Dalian Commodity Exchange is down 1.45% at 804.0 yuan a ton. (tracy.qu@wsj.com)
2244 ET - Palm oil prices rise in early trading, amid ongoing geopolitical tensions in the Middle East that are keeping energy prices firm, AmInvestment Bank says in a note. Stronger crude oil prices could support demand for palm oil as a biodiesel feedstock. However, demand risks could emerge if the macroeconomic backdrop weakens due to prolonged tensions in the region. AmInvestment Bank pegs resistance at 4,707 ringgit a ton and support at 4,532 ringgit a ton. The Bursa Malaysia Derivatives contract for June delivery is up by 73 ringgit to 4,645 ringgit a ton.(yingxian.wong@wsj.com)
2136 ET - Aluminum rises in early Asian trading, with the three-month contract on the London Metal Exchange last up 0.7% at $3,465.00 a metric ton. The ongoing conflict in the Middle East continues to place about 9% of global supply at risk and is affecting plans to expand smelting capacity, ANZ Research analysts say in a note. In particular, about 19% of production in Bahrain has been suspended, while Qatar has been forced to curb some aluminum output due to a natural gas shortage, ANZ adds. (jason.chau@wsj.com)
1944 ET - Gold falls in early trade as rising energy prices spurred by the Middle East conflict exacerbate inflation worries. "This has resulted in a rise in U.S. Treasury yields to multi-week highs, weighing on non-yielding assets such as gold," Exness' Eric Chia says in an email. Also, "risks of persistent high energy prices could limit the Fed's ability to shift toward a more accommodative stance, keeping gold sensitive to geopolitical developments," the financial markets strategist adds. The FOMC will hold a two-day meeting starting Tuesday, where investors are likely to closely monitor how policymakers react to the recent jump in energy prices. Spot gold is 0.7% lower at $4,983.71/oz. (ronnie.harui@wsj.com)
1845 ET - It's a good time for Metro Mining CEO Simon Wensley to be in China negotiating prices for bauxite sales in the June quarter, says Shaw & Partners. That's because bauxite prices have been rising. Reports suggest that major exporter Guinea is considering implementing export controls on the commodity. "He is likely to see a more supportive environment for prices today than if he had commenced negotiations two weeks ago," Analyst Andrew Hines says of Wensley's China talks. Guinea accounts for about 70% of global seaborne supply. Shaw says any disruptions to Guinea supply would have a large impact on price. It draws parallels with 2024/25 when the bauxite price surged to US$130/ton after the removal of Guinea Alumina Corp's export licence. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 16, 2026 09:15 ET (13:15 GMT)
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