The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0321 GMT - Golden Agri-Resources' valuation remains inexpensive relative to its peers, says the Singapore team at RHB Research in a note. The Singapore-listed oil-palm company trades at a 7.5X its estimated 2026 price-to-earnings ratio, which is on the lower end of its peers' 7X-12X range, the analysts say. This comes as the company's 1Q results were slightly lower than RHB's and consensus forecasts, they note. While Golden Agri's 2Q earnings could grow on-quarter on higher fresh-fruit bunch output and average-selling price, the team expects a lower downstream margin to marginally offset this gain. They cut their 2026-2028 earnings projections by 2.2%-5.4%. Still, RHB raises its target price to S$0.36 from S$0.35 and maintains a buy rating. Shares fall 1.5% to S$0.32.(megan.cheah@wsj.com)
0257 GMT - Palm oil rises in early Asian trade following gains in soybean oil prices Friday on the Chicago Board of Trade, AmInvestment Bank says in a note. Higher crude oil is also supporting palm oil prices, the bank says. Technical analysis suggests crude palm oil futures may rise further, although caution is warranted amid weakening export and higher output, it adds. AmInvestment Bank sees resistance at 4,495 ringgit a ton and support at 4,370 ringgit a ton. The Bursa Malaysia Derivatives contract for August delivery is 56 ringgit higher at 4,493 ringgit a ton.(yingxian.wong@wsj.com)
0242 GMT - Iron ore is lower in early Asian trading. Prices are likely to stay range-bound in the near term with both demand and supply being relatively weak, Nanhua Futures analysts say in a note. Given stretched valuations, any momentum for an upside may be limited, they add. The most-traded iron-ore contract on the Dalian Commodity Exchange is down 0.5% at 808.0 yuan a ton. (tracy.qu@wsj.com)
0134 GMT - Nickel falls in early Asian trade, as new supply issues have emerged due to the Middle East disruption, ANZ Research commodity strategists say in a report. The Middle East accounts for nearly 50% of the global sulphur trade. Higher sulphur rates will push up the cost curve and affect nickel sulphate production, ANZ says. The three-month nickel contract on the London Metal Exchange is 0.3% lower at $18,435.00 a ton. (amanda.lee@wsj.com)
2350 GMT - Gold consolidates in early Asian trade, but may be weighed by expectations of Fed rate increases that typically reduce the allure of the non-interest-bearing precious metal. "The market now anticipates interest-rate hikes by the Fed," Commerzbank Research's Carsten Fritsch says in a research report. These expectations have emerged following the much higher-than-expected U.S. April PPI data, the commodity analyst notes. "A 15-basis-point rise in U.S. key interest rates is priced in by the end of the year, and a full 25-basis-point rate hike by March 2027," Fritsch adds. Spot gold is flat at $4,539.13 per ounce.(ronnie.harui@wsj.com)
2311 GMT - Iluka Resources gets a new bull in Ord Minnett, as the buzz around rare earths starts to overshadow its minerals sands business. Analyst Matthew Hope stays cautious about A$417 million of net debt in the mineral sands business. Still, he expects any capital raise will be pushed out until the end of the year at the earliest. "In the meantime, Iluka should be announcing rare-earths oxide offtake deals from mid-year keeping the REO news flow active," Ord Minnett says. "There is risk that offtake prices may disappoint, so we are not overly aggressive." Ord Minnett upgrades Iluka to buy, from hold, and raises its price target by 13% to A$9.00/share. Iluka ended last week at A$7.90. (david.winning@wsj.com; @dwinningWSJ)
2302 GMT - Tin prices are likely to stay stronger for longer, underpinning Ord Minnett's bullish view of Metals X. Ord Minnett upgrades forecasts for tin prices through 2026, citing slower-than-expected restarts to supply from mines in Myanmar and Indonesia. "With strong Renison mine production likely to continue and sustained high prices, we project Metals X's cash balance will expand to A$444 million by December," analyst Matthew Hope says. This gives Metals X additional firepower to increase volumes. Ord Minnett retains a buy call on Metals X, and lifts its target price by 25% to A$2.00/share. Metals X ended last week at A$1.54. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
May 18, 2026 00:15 ET (04:15 GMT)
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