MARKET MOVEMENTS:
–Brent crude oil is up 1.3% at $68.09 a barrel
–European benchmark gas is up 0.5% to 33.76 euros a megawatt-hour
–Gold futures are flat on $3,418.90 a troy ounce
TOP STORY:
Chinese Rare-Earth Stocks Surge After Beijing Tightens Controls
Chinese rare-earth stocks rose sharply after Chinese authorities published new rules to strengthen oversight of production and trading of the critical minerals.
Rare-earth stocks surged in Hong Kong and mainland China markets on Monday. JL Mag Rare-Earth closed 14% higher and Zijin Mining advanced 6.4% in Hong Kong. China Northern Rare Earth (Group) High-Tech ended 9.9% higher in Shanghai and ZheJiang ZhongKe Magnetic advanced 6.5% in Shenzhen.
The gains came after China's Ministry of Industry and Information Technology published the latest regulations on Friday, setting output controls on rare-earth mining and smelting, and requiring companies to closely monitor and report product flows. The new rules took effect July 28.
China's dominant position in supplying rare-earth magnets and metals has been a powerful bargaining chip in trade negotiations with the U.S. After years of taking market share from the West, the country now produces about two-thirds of the world's rare-earth minerals, and processes around 90% of the supply.
OTHER STORIES:
Pan American Clears Final Hurdle Need to Close MAG Silver Deal
Pan American Silver expects to close its $2.1 billion takeover of MAG Silver on or about Sept. 4 after securing the last approval needed.
The silver and gold producer said Monday that the Mexican Federal Economic Competition Commission approved its deal to buy all of the issued and outstanding common shares of MAG. All required regulatory, shareholder and court approvals, including the final court order, have now been received.
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Rio Tinto Stops Work at Giant Guinea Iron Ore Project After Worker Death
Rio Tinto has suspended all activities at its Simandou iron-ore project in Guinea following the death of a worker there, the mining giant said.
An employee of a contracting company died at the SimFer mine site in Guinea's Nzerekore region on Friday, Rio Tinto said in a statement on Saturday. The company didn't provide further details on the incident or the possible impact on the project.
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Harmony Gold's Earnings to Rise on Higher Gold Prices, Improved Operations
Harmony Gold expects earnings for fiscal 2025 to have risen from the prior year, boosted by higher gold prices and an improved operational performance.
The South African gold miner said Monday that for the year ended June 30, it expects to report that earnings per share rose to between $1.20 and $1.32. This would be an increase of between 64% and 81% on the 73 U.S. cents per share it reported the year prior.
Headline earnings per share are expected between $1.21 and $1.37, compared with 99 U.S. cents a share in the prior year.
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CMOC Group Shares Rally After Record First-Half Earnings
CMOC Group shares surged after the company posted record earnings for the first half of the year.
The Chinese mining company's Hong Kong-listed shares rose as much as 11.5% to HK$12.03 on Monday, while its Shanghai-listed shares gained as much as 8.5% to 12.05 yuan. Both have since pared some gains, last trading at HK$11.87 and 11.86 yuan, respectively.
Net profit for the first half climbed 60% from a year earlier to 8.67 billion yuan, equivalent to $1.21 billion, CMOC said Friday.
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Pilbara Minerals Swings to Annual Net Loss Amid Lithium Price Slump
Pilbara Minerals on Monday reported an annual net loss despite record production and lower operating costs, reflecting an ongoing slump in lithium prices.
The company, which produces lithium-rich spodumene concentrate in Australia, said it made a net loss of 195.8 million Australian dollars (US$127.1 million) for the year through June. It made a net profit of A$256.9 million a year earlier.
Directors did not declare a dividend, in line with the miner's capital management framework and to preserve balance-sheet strength, the company said.
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Star Diamond Chair, CEO Ewan Mason to Retire Later This Year
Star Diamond Chair, President and Chief Executive Ewan Mason plans to retire Nov. 20.
The natural resources company said Mason notified the directors of his intention to step down after seven years on the board and nearly three years as president and CEO.
MARKET TALKS:
U.S. Farmers Expected to Get Support From Washington -- Market Talk
1023 ET - A potential reduction in borrowing costs by the Fed this year "would likely provide further support for farmers and ranchers" in the U.S., Wells Fargo economists write. They say the agricultural sector is enjoying "sturdy income growth and moderating production costs." Although low crop prices are "exerting ongoing pressure" on farmers, they are "experiencing some relief on the cost side with lower prices for feed and fertilizer and modestly lower financing costs," Wells Fargo says. Federal assistance is also expected to offset losses from weaker crop values, the economists say. (paulo.trevisani@wsj.com; @ptrevisani)
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Live Cattle Futures Fall Amid Reports of Screwworm in U.S. -- Market Talk
10:17 ET - Cattle prices fall amid reports that the U.S. has recorded the first case of screwworm in a human patient. The parasite's spread in Central America has led U.S. authorities to ban cattle imports from Mexico amid concerns that the flash-eating maggot could infest American cattle. Markets also are reacting to Friday's Cattle on Feed Report, whose numbers "were mostly neutral with only placements a little higher (+3%) than expected," Total Farm's Naomi Blohm writes. Live cattle futures fall 0.4%. Lean hogs are up 0.2%. (paulo.trevisani@wsj.com; @ptrevisani)
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Grain Futures Rise Despite Strong Yield Forecasts -- Market Talk
0927 ET - Corn leads an increase in grain futures, despite Pro Farmer's prediction of record corn and soybeans yields. Experts are debating whether disease and weather conditions could still dent production. Trade wars also loom large. AgResource says in a report that Chinese buyers are asking for November Brazilian soybean offers. "Amid large reserves, China may be able to avoid U.S. soybeans until late November/December," the firm says, adding that the U.S. normally sells to China 14% of its annual imports by Sept. 1. On the CBOT, corn is up 0.8%, wheat rises 0.6% and soybeans are up 0.2%. (paulo.trevisani@wsj.com; @ptrevisani)
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Oil Futures Gain on Geopolitical Risk Premium -- Market Talk
0905 ET - Crude futures add to last week's gains with prospects for a Russia-Ukraine peace looking uncertain and expectations that the U.S. will raise tariffs on India for buying Russian oil. "Some fear premium is still required to account for additional disrupted supply out of Russia in the coming weeks and months," Ritterbusch says in a note. Commitment of traders is also showing "an unusually strong bullish skew" as selling interest by funds "has largely dried up," the firm adds. WTI is up 0.6% at $64.05 a barrel and Brent is up 0.5% at $68.09. (anthony.harrup@wsj.com)
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U.S. Natural Gas Futures Start Week Lower -- Market Talk
0859 ET - U.S. natural gas futures are lower as weather forecasts shed more heat over the weekend. "Natural gas is set for another rough session as weather continues to look unsupportive over the next few weeks," Gary Cunningham of Tradition Energy says in a note. The power-sector demand and LNG exports that were expected to limit injections into storage and leave inventories below-average to start winter aren't happening, he says. "Some support will come from the potential reversal of coal activations we saw earlier in the summer as gas prices rose. Operators with both resources should switch back to gas at these price levels, even for winter." Nymex natural gas is down 2.2% at $2.639/mmBtu. (anthony.harrup@wsj.com)
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Gold Futures Prices Remain Elevated After Fed Chair Opens Door to Rate Cuts -- Market Talk
1158 GMT - Gold futures inch lower, but remain elevated as markets continue to digest U.S. Federal Reserve Chair Jerome Powell's Friday speech at the Jackson Hole symposium. Futures are down 0.1% at $3,416 a troy ounce, but are up 1.1% on week. The U.S. dollar and bond yields fell and gold gained Friday after Powell opened the door to an interest rate cut in September, ING analysts say in a note. Powell had pointed to increasing labor market risks, despite persistent inflation concerns. Traders are now increasing bets on rate cuts and gold could be poised for another fresh record high in the short-term, ING adds. (joseph.hoppe@wsj.com)
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Palm Oil Falls on Likely Profit-Taking -- Market Talk
1032 GMT - Palm oil futures closed lower, erasing earlier gains. The recent sharp rally from India's festive buying and limited production growth in August likely limited fresh buying and restrained further upside, together with possible pressure from profit-taking activities, Kenanga Futures write in a note. The Bursa Malaysia Derivatives contract for November delivery fell 36 ringgit to 4,493 ringgit a ton. (kimberley.kao@wsj.com)
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Gold Expected to Be Supported by Two Likely Fed Rate Cuts -- Market Talk
0918 GMT - The futures market is now pricing in two 25bps Federal Reserve rate cuts by December, leaving gold well-supported, Kudotrade analyst Konstantinos Chrysikos says in a note. Fed Chair Jerome Powell is signalling risks to the labor market are increasing amid elevated inflation and suggesting that the Fed may need to adjust its restrictive stance, which weighs on U.S. Treasury yields and benefits the precious metal, says Chrysikos. Upcoming U.S. GDP growth and personal-consumption-expenditures data will be key in determining the Fed's policy path, he adds. Softer inflation and weaker growth figures could further support gold. Spot gold falls 0.2% to $3,363.52/oz. (megan.cheah@wsj.com)
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European Gas Prices Ease but Remain Supported by Supply Risks, Asian LNG Demand -- Market Talk
(MORE TO FOLLOW) Dow Jones Newswires
August 25, 2025 11:25 ET (15:25 GMT)
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