The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0251 GMT - Palm oil prices fall in early trading, tracking declines in crude oil prices as President Trump announces a two-week cease-fire in the Iran war. Lower crude prices tend to weigh on demand for palm oil as biofuel. Investor sentiment may stay cautious as Middle East tensions persist, with market participants waiting for key data from Malaysia Palm Oil Board, AmInvestment Bank says in a note. The Bursa Malaysia Derivatives contract for June delivery is down 145 ringgit at 4,620 ringgit a ton. (yingxian.wong@wsj.com)
0220 GMT - Iron-ore futures decline in Asian trading after a recent break. Chinese iron-ore demand is likely to weaken further in 2026 as steel consumption falls, ANZ Research analysts say in a note. They cite a weakened property sector and only partial offsets from infrastructure- and consumer-sector measures. Increased antidumping measures and trade barriers also threaten China's ability to sustain its high export volume, they add. The most-traded iron-ore contract on the Dalian Commodity Exchange drops 1.1% to 791.50 yuan a metric ton. (megan.cheah@wsj.com)
0206 GMT - Crude palm oil price outlook appears firmer, supported by stronger demand, a favorable macro backdrop, and higher price assumptions, TA Securities analyst Angeline Chin says in a note. Indonesia's B50 biodiesel mandate, which requires a 50% palm-based blend, is now targeted for July, with higher crude oil prices improving biodiesel economics and easing subsidy pressures, she says. Potential export curbs in Indonesia could further tighten supply and lift prices, she reckons. Higher freight costs could also boost palm oil's competitiveness against soybean oil, encouraging substitution from key buyers like India and China, she adds. (yingxian.wong@wsj.com)
0145 GMT - Base metals rise in early Asian trade, with the three-month contract on the London Metal Exchange for copper advancing 2.6% to $12,620.50 a ton. Markets are finding some temporary relief after President Trump agreed to a cease-fire subject to Iran reopening the Strait of Hormuz, Nanhua Futures analysts say in commentary. Meanwhile, aluminum is finding support as supply disruptions continues to bite despite the cease-fire, ANZ Research analysts say in a note. The three-month contract for aluminum is up 0.5% at $3,493.50 a ton.(jason.chau@wsj.com)
0048 GMT - A two-week cease-fire is welcome for risk assets, but such patterns have happened before, and uncertainty can persist, says Josh Gilbert, market analyst at eToro. "Ultimately, it's important that investors don't get ahead of themselves. We've seen Trump set and extend deadlines multiple times before, and a two-week window is not a permanent resolution," the note says. Earlier, President Trump announced the cease-fire with Iran, sending crude below $100 and pushing gold and other precious metals higher. The note says if shipping lanes reopen and oil stabilizes, it could mark a turning point for global markets--but if no lasting deal emerges, the relief rally might reverse sharply. (venkat.pr@wsj.com)
0038 GMT - Bellevue Gold appears to have enjoyed a strong 3Q, exceeding MA Financial's expectations for production, cash generation and progress on reducing hedge book commitments, says analyst Paul Hissey. "The cash result in particular suggests underlying operational spend is lower than our current estimates which should manifest in lower AISC," or all-in sustaining costs, Hissey says. MA has a buy rating and A$2.20 target on Bellevue. "We expect a strong positive reaction to this news given the uplift in grade [leading to the better production] while the end of the detrimental hedge program now looms as near as 9 months away [on our numbers at least]," Hissey says. Shares are up 15% at A$1.80. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0019 GMT - Greatland Resources reports a strong production beat versus MA Financial's estimates, says analyst Paul Hissey. Greatland reports 3Q gold output of 82,723 oz. MA expected around 71,100 oz. Sales and cash are also higher than anticipated. "Without the production detail, it's hard to dissect the reason for the difference in the production numbers relative to our forecast--although our intuition suggests higher head grades are the likely driver," Hissey says. The numbers "will provide support to what we think is a fully priced equity story at this stage," he adds. MA has a sell rating and A$11.50 target on Greatland. Shares are up 13% at A$15.10. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2347 GMT - Precious metals rise in early trade, boosted by dollar weakness which makes USD-denominated gold and silver cheaper for holders of non-USD currencies. U.S. Treasury yields also fall, which enhances the allure of the non-interest-bearing precious metals. Wednesday morning's moves in the precious metals market come after President Trump said he agreed to suspend attacks on Iran for two weeks, subject to the "immediate" reopening of the Strait of Hormuz. A reopening of the Strait could lead to lower oil prices and ease inflation concerns. Spot gold is 2.3% higher at $4,810.27 an ounce; spot silver is 4.2% higher at $76.02 an ounce. (ronnie.harui@wsj.com)
2344 GMT - Gold is rallying after President Trump posted on Truth Social that he would suspend attacks on Iran for two weeks, sparking a retreat in oil prices. Recent increases in energy prices have fueled concerns of rising inflation and a more hawkish stance by central banks. Gold, which doesn't generate any income, tends to thrive when rates are low. Spot gold is up 2.3% at $4,810.85/oz. Spot silver is up 4.4% at $76.25/oz. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2316 GMT [Dow Jones]--Oil futures turn lower as President Trumps agrees to suspend attacks on Iran for two weeks on the condition that Iran open the Strait of Hormuz to shipping immediately. The virtual halt of tanker traffic through the strait has locked in millions of barrels a day of crude oil, pushing crude prices to near four-year highs. The call for an extension and the opening of the strait came from Pakistani Prime Minister Shehbaz Sharif, who said on X that efforts to settle the war were progressing steadily. "This will be a double sided CEASEFIRE!" Trump posted on Truth Social. "We received a 10 point proposal from Iran, and believe it is a workable basis on which to negotiate." WTI falls 16% to $94.92 a barrel. (anthony.harrup@wsj.com)
1916 GMT - U.S. natural gas futures gain as a late-season cold shot supports heating demand, but is expected to fade quickly. With summer cooling demand weeks off, the market looks to LNG exports as a key demand driver. U.S. LNG terminalsexported around 17.9 billion cubic feet a day in March, but "with capacity utilization high, only very limited flexibility exists to increase exports," the EIA said in its latest monthly outlook. "That flexibility comes from deferred maintenance, the pace of new project ramp-ups, and recent export authorization agreements." The EIA forecasts LNG exports to average 17.1 Bcf/d this year and 18.6 Bcf/d in 2027, both up from 15.1 Bcf/d in 2025. Nymex natural gas settles up 2.1% at $2.87/mmBtu. (anthony.harrup@wsj.com)
1907 GMT - Oil futures settle mixed in a jittery market with the approach of President Trump's 8 p.m. ET deadline for Iran to open the Strait of Hormuz or face major strikes against the country's infrastructure. The possibility of a last-minute extension kept buyers cautious even as prospects for an agreement are looking dim. Attacks limited to bridges and power plants would likely raise prices on the headline, but wouldn't necessarily see WTI take out the $119.48 high reached March 9, Mizuho's Robert Yawger says in a note. "If President Trump extends the deadline look for price to slide to levels below $100.00 and if the Iranians agree to open the Strait of Hormuz look for prices to slide to $80.00," he adds. WTI for May delivery settles up 0.5% at $112.95 a barrel and the Brent June contract slips 0.5% to $109.27. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
April 08, 2026 00:15 ET (04:15 GMT)
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