Saudi Arabia Restarts Crude Loadings at Major -2-
0534 GMT - Merdeka Copper Gold stands to gain from higher copper prices and rising gold output, Maybank Sekuritas Indonesia analysts say in a research report. With copper prices holding at elevated levels through 2Q, the brokerage has lifted its long-run copper price assumption to $9,260 a ton from around $8,000 a ton. The copper and gold miner's Pani gold mine has also delivered its first gold in 1Q, says the brokerage, which estimates the Indonesian group's gold production will rise to 165,000 ounces in 2026 and 465,000 ounces by 2030 from 103,000 ounces last year. The brokerage raises the stock's target price to 3,800 rupiah from 2,800 rupiah, with an unchanged buy rating. Shares are 4.8% lower at 2,760 rupiah. (ronnie.harui@wsj.com)
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Iron Ore Lower as Steel Mills' Margins Under Pressure -- Market Talk
0259 GMT - Iron ore is lower in early Asian trading. Higher coke prices are still squeezing steel mills' margins, prompting greater caution toward additional ore purchases, according to ANZ research analysts in commentary. There is further downside for iron ore prices as shipments from nonmainstream ore remain at a high level, Nanhua Futures analysts say in commentary. The most-traded iron-ore contract on the Dalian Commodity Exchange is down 1.1% at 734.5 yuan a ton. (tracy.qu@wsj.com)
Write to Barcelona Editors at barcelonaeditors@dowjones.com
(END) Dow Jones Newswires
June 26, 2026 11:54 ET (15:54 GMT)
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