The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0354 GMT - Wildcat Resources stands out as one of the best lithium developers on the ASX, says Macquarie. It initiates coverage of the stock with an outperform rating and A$0.90/share target. The company has a large-scale hard-rock development asset close to key infrastructure in the "tier-one" mining jurisdiction of Western Australia, Macquarie says. Wildcat has completed a prefeasibility study and is advancing towards a definitive study in "a market hungry for lithium," says the bank. "We believe WC8 screens attractively on an EV/MRE [mineral resource estimate] basis relative to more established peers, particularly given the size of its resource base and advanced project status," Macquarie says. Shares are up 16% at A$0.55. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0244 GMT - Danantara Sumber Daya Indonesia's role change likely eases concerns over export bottlenecks and palm oil supply disruptions, UOB Kay Hian's Amerul Iqmal says in a research report. According to official sources, the state-owned enterprise will no longer be a sole exporter, but will act as a pricing oversight body, the analyst notes. The brokerage views the latest development as modestly positive for Indonesian planters as it maintains the plantation sector's overweight rating. UOB Kay Hian upgrades First Resources to buy from hold following the company's share-price correction, with an unchanged target price of 3.65 Singapore dollars. The shares are 5.9% higher at S$3.05. (ronnie.harui@wsj.com)
0226 GMT - Nickel falls in Asian trade, with the three-month contract on the London Metal Exchange declining 0.2% to $17,965.00 a metric ton. The nickel market could be entering a period of volatility, ANZ Research analysts say, citing reports of China warning against repercussions for Indonesia's protectionist policies for the sector. Weaker-than-expected Chinese economic data is also likely to be denting market sentiment, say the analysts. (megan.cheah@wsj.com)
0221 GMT - Margins in Sims's metals businesses are widening as expected, with the company benefiting from higher ferrous and nonferrous scrap prices over recent months, RBC Capital Markets says. "While it is difficult to predict the exact timing of a steel price reversion from the currently elevated levels, for now we believe Sims remains a key beneficiary," says RBC. The broker reiterates an outperform rating on Sims's stock, with a speculative risk qualifier. It has a A$29.25 price target. RBC also views the narrowing of Sims's SLS guidance as an incremental upgrade, and says that business has been benefiting from a rebound in DDR4 prices in recent weeks. Sims shares are up 0.7% at A$29.64. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0214 GMT - Iron ore prices are lower in early trade following China's weak monthly economic data for May. China's crude steel output continues to fall as the property sector shows no signs of recovery, ANZ Research analysts say in a note. China's crude steel output in May fell 2.7% on year to 84.35 million tons, bringing year-to-date volumes to 415.53 million tons, down 3.9% on year, they note. However, they reckon there's hope that India may offset some of this weakness as it increases infrastructure spending. The most-traded iron ore contract on the Dalian Commodity Exchange is down 1.5% at 756.00 yuan a ton. (sherry.qin@wsj.com)
0133 GMT - Canaccord Genuity expects a three-month shutdown at Greenbushes' CGP3 lithium-processing facility partly owned by IGO, followed by ramp-up at the operation. "Footage from the event appears to show a belt fire [generally the most typical source of process plant fires]; however, it is far from clear what the extent of the damage is or how it started," the broker says. There could be options to work around the damage and operate at reduced capacity if the fire didn't spread, or for the operation to use higher-grade ore to reduce the impact of the event, CG adds. It keeps a buy rating on IGO, but pares its target on the stock to A$10.00 from A$10.80. IGO owns Greenbushes with Tianqi Lithium and Albemarle. IGO shares are up 0.6% at A$8.82. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
0116 GMT - Gold edges higher in early trade. Improved market confidence, due to easing concerns over energy supply disruptions, higher inflation, and interest rates, is creating a better environment for gold, says Zaheer Anwari, CEO of The Revacy Fund. Traders are focusing on several central bank decisions this week. While the Bank of Japan's rate hike has supported Japanese bond yields and could limit gold's gains, investors expect the Fed to hold rates. If the Fed's updated economic and inflation outlook appear positive, it could further boost gold's rally. Continued buying from central banks should also provide strong structural support. Anwari sees stable support around $4,000 an ounce. Spot gold is up 0.2% at $4,337.22 an ounce.(jason.chau@wsj.com)
0047 GMT - The balance of risks for gold tilt upward from here, Maybank analysts say in a research report. "At this point, with Brent crude down more than 30% from its [April] 30 high, and Fed's hawkish re-pricing having pressured bullion to a fair extent, the balance of risks is skewed towards a more bullish case for gold," the analysts say. "A sustained move lower in oil prices could bring relief to US [Treasurys] as well as EM currencies and that could in turn bring about a more sustained move higher in gold," the analysts say. Resistance is at $4,900 per ounce and then at $5,020 an ounce, based on charts, they add. Spot gold is 0.1% higher at $4,334.83 per ounce. (ronnie.harui@wsj.com)
1921 GMT - Oil futures fall for a fourth straight session as the U.S.-Iran agreement raises expectations of a quick recovery in oil flows out of the Middle East. Reports that Qatar could restore much of its lost LNG production in a couple of months "may be a signal that damage to infrastructure in the war might not be as bad as some feared," Phil Flynn of the Price Futures Group says in a note. Across the region, "much disruption stemmed from logistics/shipping fears rather than irreparable physical destruction." Downward price pressure from returning barrels would be offset by expectations of demand recovery "and the reality that any supply flood won't be unlimited," Flynn adds. WTI settles down 5.8% at $76.05 a barrel and Brent falls 5.1% to $78.96. (anthony.harrup@wsj.com)
1914 GMT - Oil futures fall for a fourth straight session as the U.S.-Iran agreement raises expectations of a quick recovery in oil flows out of the Middle East. Reports that Qatar could restore much of its lost LNG production in a couple of months "may be a signal that damage to infrastructure in the war might not be as bad as some feared," Phil Flynn of the Price Futures Group says in a note. Across the region, "much disruption stemmed from logistics/shipping fears rather than irreparable physical destruction." Downward price pressure from returning barrels would be offset by expectations of demand recovery "and the reality that any supply flood won't be unlimited," Flynn adds. WTI settles down 5.8% at $76.05 a barrel and Brent falls 5.1% to $78.96. (anthony.harrup@wsj.com)
1907 GMT - Most-active lean hog futures on the CME settled trading down 0.7% to 95.075 cents a pound. It's a continuation of Monday's lower close, and maintains the negative momentum that's been seen in hog futures for much of the year. "The market has failed to follow the strong seasonals for this time of year," ADM Investor Services says in a note. Hogs may have further downside, with a bottom yet to be confirmed, says the firm. "The overall trend remains weak and the market needs to confirm a technical bottom before buyers are going to get aggressive," says ADM. Live cattle futures settled trading up 2.4% to $2.49125 a pound. The USDA and CME will be closed on Friday in observance of the Juneteenth holiday. (kirk.maltais@wsj.com)
1858 GMT - U.S. natural gas futures rise for a third straight session with support from higher LNG feedgas flows post-maintenance. "That support is helping offset a still mixed weather setup, where heat in parts of the South and West is being balanced by milder conditions across much of the eastern half of the country," Gelber & Associates says ina note. The rally still faces pushback from healthy supply and storage levels that are above the historical average, the firm adds. Nymex natural gas for July delivery settles up 2.9% at $3.239/mmBtu.(anthony.harrup@wsj.com)
(END) Dow Jones Newswires
June 17, 2026 00:15 ET (04:15 GMT)
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