The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0244 GMT - Iron ore is higher in early Asian trading. Supply constraints are intensifying due to rising fuel costs and the hurricane season, providing near-term support for the black metal, Nanhua Futures analysts say in a research note. Given the high volatility, the analysts advise a patient "wait-and-see" approach. The most-traded iron-ore contract on the Dalian Commodity Exchange is up 0.5% at 816.5 yuan a ton. (tracy.qu@wsj.com)
0237 GMT - Palm oil prices rise in Asian trading, supported by stronger demand expectations and tracking firmer crude oil prices, AmInvestment Bank says in a note. Higher crude oil prices driven by Middle East tensions could lift CPO sentiment and strengthen the outlook for biodiesel demand, it adds. AmInvestment Bank sees resistance at 4,668 ringgit a ton and support at 4,594 ringgit a ton. The Bursa Malaysia Derivatives contract for June delivery is up by 25 ringgit at 4,656 ringgit a ton. (yingxian.wong@wsj.com)
0204 GMT - The Malaysian government's RON95 fuel subsidy cut might not materially disrupt consumption trends, as most users consume less than the revised quota, RHB IB analyst Soong Wei Siang says in a note. Malaysia is cutting the monthly quota for subsidized RON95 fuel to 200 liters from 300 liters per person amid rising oil prices. Policy support and stable domestic demand will likely sustain the consumer sector's earnings, but prolonged Middle East tensions might pose inflation risks, he says. Names with defensive qualities and domestic-centric earnings are still preferred, as they are seen to be insulated amid heightened geopolitical uncertainties, he adds. RHB maintains an overweight rating on Malaysia's consumer sector, pegging Nestle (Malaysia), Mr. D.I.Y. Group (M), Eco-Shop Marketing, Farm Fresh and AEON Co. (M) as its top picks. (yingxian.wong@wsj.com)
0115 GMT - Aluminum surges in early Asian trading, with the three-month contract on the London Metal Exchange last up 4.2% at $3,435.00 a metric ton. The metal is likely to see further gains after Iran attacked another smelter in the Persian Gulf, ANZ Research analysts say in a note. Aluminium Bahrain, which operates one of the world's largest smelters, said its facility was attacked Saturday, after it already announced a 19% production capacity cut due to disruptions at the Strait of Hormuz. ANZ Research estimates around four to five million tonnes of exports are at risk, with no immediate alternative supply to cover the shortfall.(jason.chau@wsj.com)
2347 GMT - Gold falls in early trade amid rising inflation fears driven by higher oil prices stemming from the Middle East conflict. Gold and silver have "come under considerable pressure as the Middle East war triggered a broad macroeconomic shock across global markets, forcing investors to simultaneously reprice inflation, rates, growth and liquidity conditions," Saxo Bank's Ole Hansen says in an email. "Investors appear reluctant to re-engage with the longer-term hard-asset narrative until both macro conditions stabilize and the technical picture turns more supportive." Spot gold is 0.9% lower at $4,452.16 an ounce; spot silver is 2.5% lower at $68.01 an ounce. (ronnie.harui@wsj.com)
2243 GMT - Australian miners should have enough diesel to bridge a short disruption in fuel supplies, Jefferies says. Miners appear to have roughly 1-3 weeks of diesel on site and about 4-6 weeks of inbound supply visibility, it says. "The more credible and lasting impact is ongoing cost inflation from the rise in diesel pricing, even in a de-escalation scenario," says Jefferies. Elevated diesel prices will drive up costs of everything from contract mining, consumables, reagent freight and contract haulage to export logistics, shipping and mine-site aviation, it says. "Higher costs could be manageable in a positive commodity environment," says Jefferies. "However, a longer conflict and tighter oil markets point to a stagflation squeeze." Jefferies highlights coal and iron ore miners as most at risk given the large volumes they need to move. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2226 GMT - U.S. investors' main question for UBS about Australian miners: How much diesel do they have? Questions about diesel supply have been ramping up as investors weigh the prospect of fuel rationing in Australia, UBS analysts say. They range from "cost impacts and sensitivities for each of our miners to potential for rationing/the pathway to demand destruction and supply conservation," UBS says. In a separate note, UBS analysts say they met with 17 mining companies in Western Australia recently. "Companies we spoke to noted anywhere from 1 week to 1 month of fuel supplies on hand, but no visibility beyond mid-April given uncertainty around the timing of the end to the Middle Eastern conflict," UBS says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
March 30, 2026 00:15 ET (04:15 GMT)
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