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

0352 GMT - Copper rises in early Asian trade. Copper prices are likely to be driven by sentiment around artificial intelligence, which is increasingly shaping expectations for future power and copper demand, Goldman Sachs Research says in a note. Yet, "we see near-term downside risk to copper prices if the Middle East conflict escalates further and adds to inflation and rate hike concerns," it says. China's physical market has continued to tighten with low inventories, which is likely to help cushion any downside pressures, Goldman Sachs adds. The three-month LME copper contract is 0.3% higher at $13,561.00 a ton. (kimberley.kao@wsj.com)

0248 GMT - Palm oil rises in early Asian trading, driven by higher soybean oil prices on the Chicago Board of Trade as well as gains in crude oil prices, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Ng expects palm oil prices to face resistance at 4,700 ringgit a ton and support at 4,500 ringgit a ton. The Bursa Malaysia Derivatives contract for October delivery rises 40 ringgit to 4,637 ringgit a ton.(amanda.lee@wsj.com)

0229 GMT - Iron ore falls in Asian trade, with the most-traded iron ore contract on the Dalian Commodity Exchange 0.5% lower at 757.50 yuan a ton. Broader demand for the ferrous metal remains weak, with China's structural slowdown in steel consumption showing little sign of reversing without targeted policy support, ANZ Research analysts say. Weak domestic consumption, elevated inventories and ample physical supply in China are expected to weigh on prices. However, growing disruptions to diesel and gas supplies raise concerns about tighter supply from mines in Australia and Brazil, with higher fuel prices seen pushing up the industrywide cost curve and providing near-term price support, ANZ adds. (jason.chau@wsj.com)

0033 GMT - Gold declines in the early Asian trade. Expectations that interest rates will remain higher for longer have boosted the dollar and Treasury yields, likely weighing heavily on gold, says XS.com's Rania Gule in a note. Still, she reckons the recent decline is more likely a temporary repricing process, rather than the beginning of a prolonged bear market for the yellow metal. Gold's structural characteristics continue to make it an effective hedge against sovereign risk, persistent inflation, and geopolitical uncertainty, while central bank buying should provide long-term support to gold prices, she adds. Spot gold is down 0.4% at $4,001.73 an ounce. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

July 20, 2026 00:15 ET (04:15 GMT)

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