Korea Zinc to Build $7.43 Billion Smelter in U.S. -2-

0735 GMT - Comex gold futures are seeking to test resistance at $4,400/oz, based on daily chart, RHB Retail Research's Joseph Chai says in a research report. The latest positive price movements reaffirm that gold bulls are still in the "driver's seat," the analyst says. An upside breakout above this resistance level would improve market sentiment and attract fresh bullish momentum, propelling the futures toward higher resistance at $4,500/oz, Chai says. Spot gold is 1.0% higher at $4,343.25/oz. (ronnie.harui@wsj.com)

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Chinese Solar Firms Unlikely to See Significant Margin Recovery in 2026 -- Market Talk

0626 GMT - China's renewables sector is unlikely to see substantial supply-side reform or a recovery in solar company margins in 2026, Deutsche Bank analyst Gary Zhou says in a note, citing recent conversations with investors. Market expectations for the government's crackdown on solar overcapacity are subdued, he notes. Wafer and cell margins have fallen back to historical lows, with Zhou forecasting this downturn to persist through January and February next year due to reduced activity during Chinese new year, though margins could rise 20%-30% on month in March, in line with seasonal trends. With low expectations for polysilicon industry consolidation, DB suggests any consolidation in 1H 2026 could drive up share prices. The bank reiterates GCL Tech as its top pick, viewing its near-term correction as a buying opportunity.(jason.chau@wsj.com)

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Iron Ore Prices Fall Amid Weak Fundamentals -- Market Talk

0255 GMT - Iron ore prices are lower in early Asian trading due to weak fundamentals, analysts say. Demand for the metal remains at low levels, weighing on prices, Baocheng Futures analysts write in a note. Global shipments are strong, and supply is high, while inventories are also facing pressure, they add. The most actively traded January iron ore contract on the Dalian Commodity Exchange falls 0.8% to CNY775.0 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

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Palm Oil Falls, Tracking Weaker Soybean Oil -- Market Talk

0245 GMT - Palm oil is lower in early Asian trading, tracking weaker soybean oil prices on the Chicago Board of Trade, says David Ng, trader at Kuala Lumpur-based Iceberg X. The edible oils often move in tandem as they are used in similar products. Market sentiment is also weighed by persistent concerns about rising palm oil stocks in Malaysia, he says. Ng sees support for crude palm-oil futures at 3,950 ringgit a ton and resistance at 4,080 ringgit a ton. The Bursa Malaysia Derivatives contract for February delivery falls 12 ringgit to 4,006 ringgit a ton.(amanda.lee@wsj.com)

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Copper Rises; Strong Fundamentals Support -- Market Talk

0208 GMT - Copper rises in early Asian trade, with the three-month LME copper contract up 1.2% at $11,656.00/ton. Copper's ascent is unlikely to be derailed on strong fundamentals, ANZ Research analysts say in a note. Renewed supply disruptions from a series of mine outages have fueled a rally in base metals this year. Demand also continues to exceed expectations, supported by China's imports for its EV and energy infrastructure sectors, alongside U.S. demand for the AI investment boom, the bank says. "We are bullish on copper and expect the market to move further into deficit in 2026," ANZ adds. (jason.chau@wsj.com)

Write to Barcelona Editors at barcelonaeditors@dowjones.com

(END) Dow Jones Newswires

December 15, 2025 09:53 ET (14:53 GMT)