Basic Materials Roundup: Market Talk

The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0900 ET - Gold futures extend early losses after September core U.S. CPI comes in higher than expected, pushing up yields and the U.S. dollar. Factors behind dollar gains include geopolitical developments on the war front and the IMF chief saying U.S. Treasury Secretary Scott Bessent's growth plans aren't enough to tame surging deficits and the mounting debt pile, Peter Cardillo of Spartan Capital says in a note. "Ironically, these concerns provide another reason to buy precious metals." Gold for December delivery is down 1.2% in New York at $4,126.50 a troy ounce. Silver falls 2.7% to $57.92 a troy ounce. (anthony.harrup@wsj.com)

0445 ET - The big question around European consumer staples during third-quarter results is whether companies can maintain volume momentum while raising prices, analysts at Barclays say in a note. Across food and personal care, the analysts say they have increased third-quarter growth assumptions by around 30 basis points on average. The largest upward revisions in price growth have been for Henkel, Magnum Ice Cream and Danone. L'Oreal, Unilever and Magnum Ice Cream will likely be the strongest examples of balanced growth in the sector, they add. (aimee.look@wsj.com)

0445 ET - Saudi Arabian and U.A.E. chemical producers face a test of their ability to redirect exports as disruptions to shipping through the Strait of Hormuz continue, S&P Global Ratings says. Company results should provide evidence of how effectively producers have used alternative routes despite logistical constraints, according to the ratings firm. Solid chemical products are generally easier to store or reroute than liquids, which require specialized storage and transportation infrastructure. S&P says the conflict has disrupted regional chemical exports and production, making geographic diversification an important factor in companies' credit resilience. (farhan.rafid@wsj.com)

0141 ET - Rio Tinto's third-quarter production update is in line with expectations, RBC Capital Markets analyst Ben Davis writes. Pilbara iron ore shipments were as expected, copper output was 2% ahead while aluminum output was 6% below consensus views, he says. All guidance was backed apart from lithium output, which is now seen at the lower end of the guided range due to the slower ramp-up at Sal de Vida in Argentina, he writes. Overall, the update should only drive minimal changes to consensus earnings estimates, he says. In Sydney, shares are down 0.3% at A$160.48.(adam.whittaker@wsj.com)

1924 ET - Paladin Energy has an increasingly difficult task to achieve its FY27 goals after 1Q output missed expectations. Paladin produced 1.0 million lbs of U308, a common compound of uranium, at the Langer Heinrich mine in Namibia in 1Q. This undershot Jefferies's forecast by 11%. Cost of production was 29% higher than Jefferies expected as well. Paladin's share price falls 6%, to A$7.55, its lowest level since November. "Unchanged guidance requires a material 2H grade and recovery uplift, exposing FY27 earnings to delivery risk," analyst Daniel Roden says. Jefferies had a "buy" call and A$14.50/share price target on Paladin ahead of today's operational update. (david.winning@wsj.com; @dwinningWSJ)

1848 ET - Mineral Resources is Morgans's top pick among Australian lithium miners as share prices in the sector continue to go on a wild ride. Spodumene prices fell 23% in 3Q and have weakened more in October. Morgans responds by cutting its 2027 spodumene price forecast by 16%, to US$1,725/ton. Mineral Resources ended Tuesday at A$45.81, and is down 38% since the start of June. Morgans upgrades the stock to "buy," from "accumulate." "Diversification across mining services, iron ore and lithium better protects earnings and cash flow, with free cash flow yields positive across all our price scenarios," analyst Annabelle Sleeman says. Its price target on Mineral Resources falls 8.5%, to A$65.00/share. (david.winning@wsj.com; @dwinningWSJ)

1830 ET [Dow Jones]--PLS Group's share-price fall close to a 12-month low prompts Bell Potter to upgrade the stock to buy, from hold. "At current lithium market prices, PLS will generate substantial earnings and cash flow with the restart of the 200,000 tons per annum Ngungaju processing plant," analyst James Williamson says. PLS is also progressing development studies for two additional projects, known as P2000 and Colina. These are growth options for PLS without resorting to M&A in markets underpinned by strong underlying long-term demand, such as electric vehicles and battery storage. PLS ended Tuesday at A$3.08, down some 54% from its June high. (david.winning@wsj.com; @dwinningWSJ)

1411 ET - Gold futures slip in rangebound trade as the market awaits Wednesday's U.S. consumer price inflation data and its implications for Fed interest-rate policy. "Expectations of an October Fed rate hike remained subdued ahead of U.S. economic data this week, but markets are still pricing in a strong chance of a hike in December," Critical Metals CEO Tony Sage says in a note. "This could keep gold at risk." Softer CPI or PPI numbers this week could help gold rebound, but "stronger-than-expected prints may lift the dollar and yields, pushing the yellow metal lower," he adds. Front-month gold for October delivery settles down 0.3% at $4,152.90 a troy ounce. Silver falls 1.6% to $59.161 a troy ounce. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

October 14, 2026 12:20 ET (16:20 GMT)