3 Commodity Stocks That Could Hold Up Better If Inflation Stays Sticky

With inflation back in focus and the Federal Reserve weighing its next move, investors are again asking which stocks might handle sticky prices and shifting rate expectations more calmly than others. Elevated energy costs, heavy spending on AI infrastructure, and a firm commitment to the 2% inflation target are all feeding into a more uncertain path for policy. This article looks at three stocks from a US Inflation Beneficiaries screener that are closely tied to these developments, and explains how the current backdrop could influence their risk and return profile so you can decide whether they deserve a closer look or a wider berth.

Sociedad Química y Minera de Chile (SQM)

Overview: Sociedad Química y Minera de Chile is a Chile based materials company that produces lithium chemicals for batteries, specialty fertilizers for agriculture, and iodine products used in healthcare, electronics, and nutrition across global markets.

Operations: SQM generates most of its roughly US$6.3b in revenue from Lithium and Derivatives (about US$3.0b), Iodine and Derivatives (about US$1.1b), and Specialty Plant Nutrition (about US$1.0b). Asia and other regions contribute the largest share geographically at about US$3.5b.

Market Cap: US$21.3b

Sociedad Química y Minera de Chile sits at the intersection of two inflation sensitive areas: energy transition and food production. It supplies lithium for batteries and specialty fertilizers, and its pricing for key products often tracks spot markets, which can matter when higher inflation supports commodity prices. Recent results show strong revenue and earnings, while analysts expect solid earnings growth and a high future return on equity. Despite this, the company still trades at a P/E broadly in line with the wider Chemicals industry. At the same time, heavy reliance on volatile lithium markets, large capital spending plans, and evolving regulation in Chile mean conditions can change quickly. The fuller story helps you weigh how these strengths and risks line up against your own inflation view.

Sociedad Química y Minera de Chile sits between growth stories in lithium and agriculture, yet trades on a P/E similar to peers, so the real tension is valuation versus expectations in the DCF valuation analysis for Sociedad Química y Minera de Chile

Freeport-McMoRan (FCX)

Overview: Freeport-McMoRan is a Phoenix based mining company that produces copper, gold, molybdenum and other metals from large scale assets in the US, South America and Indonesia, including the Grasberg minerals district.

Operations: Freeport-McMoRan generates most of its revenue from Indonesia Operations (US$8.1b), U.S. Rod & Refining (US$7.3b), South America Operations at Cerro Verde (US$5.0b) and United States Copper Mines including Morenci and other sites (about US$7.9b combined), alongside smaller contributions from molybdenum mines and Atlantic Copper smelting and refining, partly offset by corporate and other eliminations of US$7.1b.

Market Cap: US$82.7b

Freeport-McMoRan sits at the intersection of two major inflation themes: higher input costs, especially energy and capital spending, and stronger pricing for copper and gold when inflation remains elevated and the path of rate cuts is uncertain. The company has been using new smelting capacity in Indonesia and precision leaching projects in the US to try to lower unit costs and capture more value from its ore. Policy support in the US also means it currently supplies a large share of US refined copper at a premium to global prices. At the same time, reliance on Indonesia, capital cost inflation and a relatively high P/E for the sector mean investors are paying a premium for this exposure and need to be comfortable with both commodity price swings and policy risk.

Freeport-McMoRan appears to be a pure play on copper and gold pricing, but the real story may lie in how its valuation compares with that exposure in the analysis report for Freeport-McMoRan

DuPont de Nemours (DD)

Overview: DuPont de Nemours is a diversified materials and chemicals company that supplies high performance products for healthcare, water treatment, construction, electronics, automotive, aerospace, and protective garments, including well known brands such as Tyvek, Styrofoam, Corian, Vespel, and specialized adhesives and lubricants.

Operations: DuPont de Nemours generates about US$3.6b in revenue from Diversified Industrials and about US$3.3b from Healthcare & Water Technologies.

Market Cap: US$18.5b

Investors watching inflation and interest rate debates may find DuPont de Nemours interesting because it sits in essential areas like healthcare, clean water, and electronics materials where pricing can sometimes be more resilient, and management has been using price actions to offset raw material inflation rather than banking on cheaper energy. The company is shifting its portfolio toward higher margin electronics and healthcare and has recently moved from a large loss to a profit. Analysts currently expect faster earnings growth than the wider US market, but that story comes with trade offs, including high reliance on external borrowing, ongoing PFAS legal exposure, and a high P/E that leaves less room for disappointment, especially if AI and data center demand or industrial spending differ from current expectations.

DuPont de Nemours is shifting toward higher margin electronics and healthcare, but the real question is how that story stacks up against its borrowing, PFAS exposure and high P/E in the 4 key rewards and 2 important warning signs

The three stocks covered here are only the starting point, as the full US Inflation Beneficiaries screen flags 12 more companies with stories that are just as compelling as the ones already discussed through the US Inflation Beneficiaries screener. Use Simply Wall St to identify, analyze, and filter for the exact catalysts and narratives that matter to you so you can focus on the highest conviction ideas in this theme.

Take Control of Your Investment Journey

If Sociedad Química y Minera de Chile or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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