The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.

0255 GMT - Iron ore prices are lower in early Asian trading. Prices are under pressure as supply continues to outpace demand, Nanhua Futures analysts say in a commentary. The recent rally lacked fundamental support and was unlikely to be sustained, they note. End-user demand remains weak, which may pressure the profits of steel mills, they add. The most-traded iron-ore contract on the Dalian Commodity Exchange is 0.6% lower at CNY807.0 a ton. (tracy.qu@wsj.com)

0251 GMT - In choosing its next CEO, BHP has kept to its usual form: picking a solid operator from within its own ranks to succeed its CEO after a roughly six-year tenure, Citi analyst Ephrem Ravi says in a note. In doing so, it has demonstrated why it is a "long term hold" stock, Ravi says. He says that while BHP tends to underperform in bull markets, it typically significantly outperforms in bear markets and throughout commodity cycles. "Stability of strategy, conservativeness in capital allocation, relentless focus on building skills and capabilities and building big-ticket (but long-term) value creation options are what distinguishes BHP from other miners over the last two decades," Ravi says. BHP shares are down 3.1% at A$48.53. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0241 GMT - Palm oil prices rise in early Asian trading, driven by soybean oil's strength on the Chicago Board of Trade as well as stronger crude oil prices, says David Ng, a trader at Kuala Lumpur-based Iceberg X. He expects the uptrend to persist amid ongoing geopolitical tensions in the Middle East, which could boost biofuel demand in a higher crude oil price environment. Ng sees resistance at 4,680 ringgit a ton and support at 4,500 ringgit a ton. The Bursa Malaysia Derivatives contract for June delivery rises 28 ringgit to 4,556 ringgit a ton. (yingxian.wong@wsj.com)

0124 GMT - Aluminum is flat in early Asian trading, with the three-month contract on the London Metal Exchange last at $3,400.00 a metric ton. The aluminum market remains unsettled by the Middle East conflict, with traders still assessing the impact on supply flows and demand prospects, ANZ Research analysts say in a note. Some producers are scaling back operations or suspending exports as the Strait of Hormuz remains effectively closed to shipping. "Most aluminum smelters only hold a few weeks' supply of alumina, which could further tighten availability," they add. Meanwhile, as buyers scramble to secure supply, stockpiles in China continue to build, tempering price gains, ANZ adds. (jason.chau@wsj.com)

0038 GMT - BHP's appointment of Brandon Craig as CEO is low risk and appears to broadly favor the status quo, say CreditSights analysts Wen Li and Shreyas Nampoothiri. "It supports the base case of consistent operational performance and capital discipline, but leaves open the key debate around capital allocation, specifically whether BHP will maintain its conservative stance or eventually pursue larger, more transformative M&A, in line with peers," the analysts say. For now, they expect a continued focus on organic growth over a step-up in M&A activity. BHP is down 2.9% at A$48.62. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0016 GMT - Ansell's FY 2027 margins could be hit by rising raw material costs stemming from the disruption of global oil supplies, Citi analyst Laura Sutcliffe warns. She acknowledges that the personal-protective equipment maker has shown recently it can successfully pass costs onto its customers but still thinks that input costs could have an impact. She tells clients in a note that the consensus forecast is for Ansell's FY 2027 Ebit margin to expand by 20 bps over FY 2026. Sutcliffe observes that one of Ansell's rivals has flagged nitrile latex availability issues. Nitrile latex is a key glove ingredient and represents 20%-25% of Ansell's raw material costs, she adds. Ansell has a neutral rating and A$35.00 target price on Ansell's stock, which is down 3.9% at A$28.59. (stuart.condie@wsj.com)

2331 GMT - Gold rises in early trade on a likely technical recovery after front-month gold futures settled down 2.2% overnight. Traders are still digesting the Fed's decision overnight. While the Fed left rates unchanged as widely expected, the decision reinforces its strategy of waiting for greater clarity before adjusting the trajectory of rates, XS.com's Antonio Di Giacomo says in an email. "On the one hand, there is room for monetary easing," the senior market analyst says. "On the other, risks related to oil prices and geopolitics limit the pace and magnitude of any rate cuts," the analyst adds. Spot gold is 0.4% higher at $4,836.39 per ounce. (ronnie.harui@wsj.com)

2319 GMT - Barrenjoey takes a more bullish view of coal miner New Hope's long-term dividend payout ratio. New Hope had A$620 million in cash and managed investment funds at the end of January. It also holds some A$300 million of convertible notes on its balance sheet. Barrenjoey says its cash pile should be enough to fund capex and debt repayments. "Once the capex program is complete and the put option is behind it, we suspect New Hope will look to reduce its cash balance, implying a step-up in returns," says analyst Glyn Lawcock. "As such we increase our long-term payout ratio to 80% (from 50%)." It expects New Hope will prioritize dividends over share buybacks. (david.winning@wsj.com; @dwinningWSJ)

1959 GMT - WTI oil futures edge up 0.1% to $96.32 a barrel, while Brent crude gains 3.8% to $107.38 a barrel, after strikes hit Iranian energy infrastructure. Iran's state media, in turn, publishes a list of retaliatory targets in the Middle East. A longer-term war, with fighting continuing into next month, may push crude oil prices considerably higher. In the case of Brent crude, ongoing hostilities could push prices up to $120 a barrel, and even up to $150 a barrel if the conflict extends into the second half of the year, says Citi Research in a note. (kirk.maltais@wsj.com)

1948 GMT - CME livestock futures close higher, with live cattle futures finishing up 0.2% to $2.35575 a pound, and lean hogs closing virtually flat at 93.75 cents a pound. The ongoing JBS strike in Greeley, Colo. continues to be the main factor driving cattle futures, says ADM Investor Services in a note. "A short strike will have little effect, but a long drawn out strike will mean higher beef prices and lower cattle prices," says the firm. Volumes in livestock futures are seen by traders as light. Cattle has been under pressure due to higher oil futures, as higher oil prices are seen as giving consumers less money to spend on expensive beef prices. (kirk.maltais@wsj.com)

1912 GMT - Natural gas futures rise 1.1% to $3.065 per mmBtu. Prices have risen for two straight days ahead of tomorrow's natural gas storage report from the EIA. "It's expected to print the first build of the year, and a decently large one at that," says NatGasWeather.com in a note. Weather is also shifting warmer in the eastern part of the U.S., turning comfortable over the weekend. But a "cold shot" is expected next week in the Midwest and Northeast, the firm says. (kirk.maltais@wsj.com)

1829 GMT - Gold and silver maintained their negative momentum, with gold finishing lower for the fifth out of the past six sessions, and silver settling down for the sixth straight session. Trading settled for both front-month contracts before the Federal Reserve issued its decision to keep rates unchanged. Both contracts fell slightly after the 2 p.m. ET decision. In its guidance, the Fed added a new sentence stating that the economic implications of the conflict in the Middle East were "uncertain." Front month gold settles down 2.2% to $4,889.90/oz, while silver drops 2.9% to $77.238/oz. (kirk.maltais@wsj.com)

(END) Dow Jones Newswires

March 19, 2026 00:15 ET (04:15 GMT)

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