Rio Tinto's New CEO Targets Cost Cuts, Asset -2-

0825 GMT - Silver prices could remain elevated next year thanks to the commodity's safe-haven appeal and industrial demand, OCBC's global markets research and strategy team says in its 1H commodities outlook report. The precious metal's year-to-date rally is outpacing peers such as gold, the research team says. Its use in the solar, electric-vehicle and electronics sectors is likely to underpin real consumption, it adds. "With global growth still holding up and [Federal Reserve] easing expectations intact, silver remains in a sweet spot within the commodities complex--supported by tight supply, firm industrial demand, [exchange-traded fund] inflows and steady macro tailwinds," OCBC says. It expects silver prices to reach $64.86/oz by end-2026. Spot silver falls 1.9% to $57.36/oz. ([e-mail])

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Palm Oil Falls, Weighed by Soybean Oil -- Market Talk

0310 GMT - Palm oil falls in Asian trade, with the Bursa Malaysia Derivatives contract for February delivery down 32 ringgit at 4,121 ringgit a ton. Prices are likely weighed by overnight weakness in the Chicago soybean oil market as well as concern over rising stock levels in Malaysia, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Ng sees support for CPO futures above 4,050 ringgit a ton and resistance at 4,180 ringgit a ton. ([e-mail])

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Oil Rises as Geopolitical Frictions Raise Supply Risk

0138 GMT - Oil ticks up in Asia morning trade as markets stay focused on geopolitical tensions. Russia-Ukraine peace talks have yet to yield results and the Trump administration's friction with Venezuela's government continues. Trump's latest remarks-particularly around potential military action against drug-trafficking nations and a firmer stance toward Venezuela-have fueled geopolitical risk premium priced into oil, says Nadir Belbarka at XMArabia. With the White House signaling possible strikes, markets are eyeing heightened risk of supply disruptions, the analyst says in a note. "The administration's proposed rollback of U.S. fuel-economy standards also suggests a longer-term policy shift that could lift domestic fossil-fuel demand, supporting prices," he adds. Front-month ?WTI and Brent are both up 0.3% at $59.15/bbl and $62.84/bbl, respectively. ([e-mail])

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Iron Ore Prices Fall Amid Subdued Demand -- Market Talk

0138 GMT - Iron ore prices are lower in early Asian trade, weighed by subdued demand and strong supply. Weak demand is leading to high inventories of iron ore, which have pressured prices, Everbright Futures analysts write in a note. External factors to boost the iron ore demand are absent in the short term, they say, and see near-term prices remaining volatile. The most actively traded January iron ore contract on the Dalian Commodity Exchange is down by 0.75% at CNY793.5 a ton. ([e-mail]; @ivy_jiahuihuang)

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Copper Falls After Hitting Record High -- Market Talk

0126 GMT - Copper falls in Asian trade, with the three-month contract on the London Metal Exchange down 0.3% at $11,451.50 a ton. The correction comes after the base metal's price rose to a fresh record Wednesday on supply worries. Data from the LME showed a spike in orders to withdraw copper from its Asian warehouses, with the request equating to the biggest tonnage increase since 2013, say ANZ Research analysts in a note. This likely came amid concerns over U.S. levies on refined copper next year, which has led to traders accumulating the metal, they add. Concerns about shortages were compounded by ongoing mine disruptions, with mining companies cutting their production outlooks. ([e-mail])

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(END) Dow Jones Newswires

12-04-25 1039ET