The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
1221 ET - The takeoff of the space sector -- and the industrial gasses space companies need to launch rockets -- could meaningfully boost Linde's growth over the next several years, UBS analysts write. They revise their total estimate for Linde's commercial space sales through 2030 from nearly $3 billion to around $1.3 billion, based on a lower starting sales point. Including the commercial aerospace business, that number rises to around $2.2 billion, which would represent an additional 30 to 70 basis points of annual growth for the full company. Space stocks have rallied in recent weeks, fueled by excitement around the SpaceX initial public offering. (elias.schisgall@wsj.com)
0519 ET - Press Metal Aluminium's recent share price pull back looks like an entry opportunity, Citi analyst Steven Chan says in a note. He notes the views are supported by a structurally tight aluminum market and expectations of sharp inventory drawdowns over the next three to six months. As Asean's largest aluminum producer, Press Metal appears the best play on aluminum bullishness within the region, he says. Chan expects LME aluminum prices to reach US$4,000 a ton in 2H and raises Press Metal's 2026-2028 earnings forecasts by 2%-7% on stronger price assumptions. Citi upgrades Press Metal's rating to buy from neutral, raises target price to 10.60 ringgit from 8.20 ringgit. Shares were last closed at 8.20 ringgit. (yingxian.wong@wsj.com)
0242 ET - Global central banks are likely to step up gold buying over the next 12 months, according to an annual survey of central banks by the World Gold Council. Around 89% of reserve managers surveyed expect global central bank gold holdings to continue growing, pointing towards continued demand momentum for the yellow metal. Gold's performance during a crisis, portfolio diversification and inflation hedging are among reasons for central banks to hold the asset, the 76-respondent survey notes. Gold's role as a geopolitical risk hedge is also prominent among emerging market and developing economy respondents. The findings suggest more central banks are seeing gold as an active, strategic allocation amid geopolitical uncertainty, and less as a legacy holding, says World Gold Council's Shaokai Fan. (megan.cheah@wsj.com)
2348 ET - Morgan Stanley expects the lithium market to remain tight in the near term. China's battery electric vehicle sales rebounded sharply in May, rising 13% on month, says the bank. MS also highlights strong growth in global energy-storage system shipments and truck electrification momentum in China. Lithium supply is, however, also anticipated to pick up, supported by increased prices. MS highlights the resumption of lithium exports from Zimbabwe and some Australian mine restarts, while adding that brownfield expansions are also beginning to emerge. It remains equal-weight on Australia's PLS, which it prefers over peer IGO. MS has an underweight rating on IGO, citing risks to the Greenbushes life-of-mine plan and CGP3 ramp-up. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
2249 ET - Palm oil prices rise in Asian trading, supported by stronger soybean oil prices overnight on the Chicago Board of Trade, says David Ng, a trader at Kuala Lumpur-based Iceberg X. However, he doesn't expect the price uptrend to sustain, given the prospect of weaker crude oil prices following the U.S.-Iran peace deal and slower demand. Ng expects crude palm oil futures to find support at 4,480 ringgit a ton and face resistance at 4,600 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is 38 ringgit higher at 4,523 ringgit a ton. (yingxian.wong@wsj.com)
2246 ET - Elite Material stands to benefit from the upgrade trend in copper-clad laminate specifications, Daiwa Capital Markets analysts say in a research report. This trend is driven by high-speed data transmission requirements, and remains a key growth driver for CCL vendors including Elite Material, the analysts say. The Taiwanese company's copper clad laminates of M7-M9 grades will likely be mainstream materials from 2026, and will probably migrate to M8-M10 grades from 2027. Based on Daiwa's assumption, CCL vendors should benefit from an increase of around 30% in the average-selling-price with every generation upgrade. The brokerage raises the stock's target price to 6,022.00 New Taiwan dollars from NT$5,234.00, with an unchanged buy rating. Shares are 1.6% higher at NT$5,110.00. (ronnie.harui@wsj.com)
2207 ET - Aluminium is flat in early Asian trading, with prices facing pressure as investors expect shipments from Persian Gulf producers to resume after a U.S.-Iran deal, according to ANZ research analysts. The Middle East conflict has disrupted around 10% of global supplies, they note. A recovery could also take some time even after reaching a peace agreement, they note. The three-month LME Aluminum contract is flat at $3,379.50 a ton. (tracy.qu@wsj.com)
2046 ET - Gold edges higher in early Asian trade, extending gains from Monday after the U.S. and Iran reached an interim peace deal that helped ease global inflation concerns, ANZ Research analysts say in a note. The improving risk sentiment across markets has likely also tempered investor expectations for further interest rate hikes, a view that could be confirmed by a series of central bank decisions this week, including from the Fed and the Bank of England. In particular, markets are closely watching the Fed, which is set to hold its first policy meeting under new chair Kevin Warsh. Spot gold is up 0.1% at $4,310.11.(jason.chau@wsj.com)
2018 ET - Evolution Mining shares appear to have pulled back "to a more reasonable valuation" following the gold producer's disappointing 3Q result, Macquarie says. The bank upgrades the stock to outperform from neutral but lowers its target to A$13.00/share from A$14.00. "With updates to our gold and copper price outlooks, we model material increases in EPS" over FY27 and FY28," it says. One risk: While Evolution shares pulled back in line with peers, Northern Star has underperformed more. "Should immediate improvements be made by [Northern Star] management, this could encourage a rotation from Evolution into Northern Star, which we believe offers higher risk/greater leverage," it says. Macquarie reiterates an outperform rating and A$25.00 target on Northern Star. Evolution is down 0.5% at A$12.86. Northern Star is up 1.3% at A$21.05. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
1947 ET - Macquarie downgrades both Rio Tinto and South32 to neutral from outperform, citing recent share gains. Still, the bank raises its price targets on both stocks and continues to prefer Rio Tinto to peer BHP. "We see EPS upgrades across our coverage, owing to stronger coal and base metal prices," Macquarie says. It adds that "sectoral rotations and the upstream AI thematic" may still favor the sector's largest stocks. Rio Tinto is up 29% year to date at A$189.31. Macquarie increases its target by 1.1% to A$188.00. South32 is up 26% year to date at A$4.47. Macquarie's target rises by 2.2% to A$4.60. The bank keeps a neutral rating on BHP and raises its target by 5.7% to A$56.00. BHP is up 43% year to date at A$65.18. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
June 16, 2026 16:50 ET (20:50 GMT)
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