The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.

0248 GMT - Iron ore prices rise in Asian trade on better fundamentals. Iron ore's supply and demand situation has improved in August amid inventory destocking, Nanhua Futures says in a research note. There has been little increase in iron-ore shipment arrivals in China while steel mills have started to resume production, it notes. As available molten iron declines, there is rising demand for iron ore to sustain steel production, it says. But as 2H supply of iron ore is expected to be abundant, gains in iron ore prices could be limited. The most actively traded January iron ore contract on the Dalian Commodity Exchange is up 0.3% at 718.50 yuan a ton. (sherry.qin@wsj.com)

0245 GMT - Palm oil falls in Asian trading amid cautious sentiment. Markets are monitoring Malaysia's August production estimates, AmInvestment Bank says in a note. Expectations of marginally higher or stable production could add to inventories and limit further upside to prices, it says. The upcoming monsoon season is expected to mitigate the potential impact of a super El Nino on Malaysia's palm-oil production. However, rainfall from September to November will remain crucial in determining the severity of the weather impact, it adds. AmInvestment Bank estimates palm oil prices to face resistance at 4,994 ringgit a ton and find support at 4,914 ringgit a ton. The Bursa Malaysia Derivatives contract for November delivery is down 28 ringgit at 4,918 ringgit a ton. (yingxian.wong@wsj.com)

0242 GMT - Perseus Mining "has placed a strong emphasis on returning capital to shareholders," says Citi. The gold miner's FY dividend of A$0.14 a share is 20% higher than consensus, Citi says. It also notes the miner's new dividend policy and proposed special distribution from the Meyas Sand sale. Perseus also reported increases to its resources and reserve estimates. "We expect the stronger outlook of shareholder returns and increased mine life will be taken positively, offset by the higher than expected capex," Citi says. Perseus provided FY27 guidance for sustaining capital that's 34% higher than consensus, says Citi. Its development capital estimate is 16% higher, the bank says. Citi has a buy-high risk rating on Perseus, with a A$6.80 a share target. Shares are up 11% at A$6.79. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0215 GMT - Worley's FY26 earnings are broadly in line with consensus, but its FY27 guide falls short of expectations, says Barrenjoey. "The focus of the result will be on FY27 Ebita guidance for mid-to-high single-digit growth[consensus +11%], which is also expected to have a higher 2H skew than normal," the bank says. Barrenjoey also highlights a decline in Worley's backlog to A$13.8 billion at June 30 from A$16.9 billion in March. It has a neutral rating and A$12.70 per share target on Worley. The stock is down 10% at A$9.97/share. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0204 GMT - Sandfire Resources posts "a very strong result" with a dividend beat, says Morgans. The copper miner's final dividend of 0.35 Australian dollar a share compares with an estimate of A$0.19/share by Morgans and the market more broadly, the broker says. Underlying Ebitda and profit are in line with expectations, albeit were "preguided at the quarterly" last month, Morgans says. The fiscal 2027 cost and capex guidance is also in line with expectations, it says. Morgans has an accumulate rating on Sandfire, with a A$22/share target. The stock is up 7.8% at A$24.55. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0134 GMT - Copper edges lower in the Asian session, with the three-month copper futures contract on the London Metal Exchange down 0.1% at $14,334.00 a metric ton. The tariff-related review of the U.S. copper market was due around two weeks ago, but the White House has remained silent on the topic, which suggests President Trump hasn't made up his mind about imposing tariffs, Julius Baer's Carsten Menke says. Doing nothing leaves the copper market in limbo, says Menke. The broadly upward trend for prices could continue in the short term as there isn't a deadline for Trump's decision, he adds. Still, "the copper market's current tightness is artificial, not genuine, suggesting that prices should return to more fundamentally justified levels in the medium term," he adds. (megan.cheah@wsj.com)

0123 GMT - Ansell's annual result and outlook leaves UBS analysts with a lot of questions. In fact, they list more than two dozen queries for management on topics including manufacturing, potential divestments and the impact of raw-material costs on pricing of the Australia-listed company's personal-protective equipment. With Ansell targeting the U.S. as one of five high-margin growth markets, the investment bank's analysts wonder whether the company has sufficient manufacturing capacity across all its regions. Are any regions or facilities currently under review? They want to know if Ansell sees a strategic reason to further rationalize manufacturing sites or even countries, and what sort of capital expenditure would be required. UBS has a last-published neutral stock rating and a target of 38.70 Australian dollars. Shares are down 0.8% at A$41.02. (stuart.condie@wsj.com)

0034 GMT - Gold declines in Asian trade. Markets appear to be waiting for Federal Reserve chairman Kevin Warsh to clarify his views on when the central bank is likely to react to inflation when he speaks at the annual Jackson Hole gathering Friday, say ANZ Research analysts in a note. A higher interest rate environment typically weighs on nonyielding assets such as gold. Treasury Secretary Scott Bessent also didn't offer further signals on any changes to the country's debt management, after last week's announcement around bond buybacks revived concerns over U.S. fiscal policy and the dollar's weakness, ANZ adds. Spot gold falls 0.2% to $4,646.77 a troy ounce.(megan.cheah@wsj.com)

1942 GMT - Livestock futures lose ground with cattle falling 1.2% to $2.1095 a pound as imports of Mexican cattle resume in Arizona, while lean hogs settle down 0.8% at 80.45 cents a pound amid lower pork cutout prices. The USDA's cold storage report showed beef in freezers at 382.7 million pounds as of July 31, down 1.6% from June and 3.8% lower than a year earlier. Frozen pork in storage was 439.4 million pounds, down 3.4% from the previous month but up 8.6% on the year.(anthony.harrup@wsj.com)

1914 GMT - Oil futures post back-to-back losses as the U.S. tightens the economic squeeze on Iran, raising expectations the measures could bring Iran to the negotiating table. Iran held more talks with Oman about establishing a safe shipping route through the Strait of Hormuz, with the Omani foreign ministry saying a temporary corridor could be announced soon. "Future management of the strait and a permanent solution will follow in due course, as per article 5 of the Islamabad Memorandum," the ministry said. The U.S. rejects Iranian intentions of controlling or charging tolls to cross the strait, and maintains its blockade of Iranian ports. WTI settles down 3.1% at $82.36 a barrel, and Brent falls 3.9% to $88.58.(anthony.harrup@wsj.com)

1911 GMT - Natural gas futures end slightly lower after two days of gains, held up in part by forecasts for continuing heat across the southern two-thirds of the country. "Monday's push into price territory not seen since late July failed to develop into a breakout, prompting traders who had followed the rally higher to lock in gains," Gelber & Associates says in a note. Late-August weather-driven demand remains supportive, "but the seasonal calendar is becoming more important as cooling load begins to fade," the firm adds.Nymex natural gas settles down 0.4% at $2.770/mmBtu.(anthony.harrup@wsj.com)

1753 GMT - Black Sea grain export disruptions due to the Russia-Ukraine war continue supporting prices, especially wheat, and are pushing importers to other sources of supply, analysts at Rabobank say in a report. If Black Sea capacity remains impaired, more business could move to Australia, the EU, Argentina, Canada, and the U.S. "That shift would support export premiums and global wheat futures, depending on crop availability, freight spreads, and the pace at which Russia and Ukraine restore dependable shipment programs," they say. CBOT wheat is up 0.4%.