American Oil Giants See Profits Soar as Wars -2-

0248 GMT - Copper prices are lower in early Asian trade. Persistent inflationary pressures in the U.S. reinforce expectations for higher-for-longer interest rates, while weaker risk appetite weighs on market sentiment, Guangzhou Futures analysts say in a note. A sharp selloff in technology stocks is fueling concerns over returns on artificial-intelligence-related capital spending, damping risk appetite, they add. However, tight copper concentrate supply and smelter losses continue to provide underlying support, while domestic inventories decline, they say. Copper prices are likely to remain range-bound in the near term, with macroeconomic headwinds capping room for gains, they add.The three-month LME copper contract is down 0.2% at $14,327 a ton. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

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Iron Ore Drops Amid Weak Demand -- Market Talk

0242 GMT - Iron ore prices are lower in early Asian trade amid weak demand. China's molten iron production has dropped to relatively low levels and have limited room for near-term recovery due to a steel production control in northern China, Nanhua Futures says in a research note. Meanwhile, iron ore supply are abundant as shipment levels remain high, they say. The accumulation of iron ore stocks at Chinese ports is slow, providing some support for iron ore prices, they add. The most actively traded January iron ore contract on the Dalian Commodity Exchange is down 0.6% at CNY676.0 a ton. (sherry.qin@wsj.com)

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(END) Dow Jones Newswires

October 30, 2026 07:50 ET (11:50 GMT)