Global Materials Healthy potentially undervalued

Alcoa

Market Cap: US$9.1b

Engages in the bauxite mining, alumina refining, aluminum production, and energy generation business in Australia, Brazil, Canada, Iceland, Norway, Spain, the United States, and internationally.

Boliden

Market Cap: SEK 118.9b

Engages in the extracting, producing, and recycling of base metals in Sweden, Finland, other Nordic region, Germany, the United Kingdom, Europe, North America, and internationally.

Nucor

Market Cap: US$30.7b

Engages in the manufacture and sale of steel and steel products.

Fortescue

Market Cap: AU$58.7b

Engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally.

Steel Dynamics

Market Cap: US$20.8b

Operates as a steel producer and metal recycler in the United States.

Osisko Development

Market Cap: CA$1.1b

Acquires, explores, and develops precious metals resource properties in Canada, Mexico, and the United States.

Yongxing Special Materials TechnologyLtd

Market Cap: CN¥21.1b

Engages in the development, production, and sale of stainless steel rods and wires, special alloy materials, and lithium battery materials in China and internationally.

Bluestar Adisseo

Market Cap: CN¥25.7b

Engages in the research, development, production, and sale of animal nutrient additives worldwide.

Shandong Hualu-Hengsheng Chemical

Market Cap: CN¥56.4b

Shandong Hualu-Hengsheng Chemical Co., Ltd.

Yunnan Tin

Market Cap: CN¥41.0b

Engages in the exploration, mining, beneficiation, and smelting of metal ores, such as tin, copper, zinc, and indium in China and internationally.

Yunnan Yuntianhua

Market Cap: CN¥52.4b

Manufactures and sells phosphate and nitrogen fertilizers and formaldehyde copolymers in China.

Tianshan Aluminum GroupLtd

Market Cap: CN¥54.2b

Produces and sells primary aluminum, alumina, prebaked anodes, high-purity aluminum, and aluminum deep-processed products and materials in China and internationally.

Scientex Berhad

Market Cap: RM 5.4b

An investment holding company, manufactures, markets, and sells stretch films and various flexible plastic packaging (FPP) products.

Yunnan Aluminium

Market Cap: CN¥72.0b

Manufactures and sells aluminum in China.

Commercial Metals

Market Cap: US$6.4b

Manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally.

CPH Group

Market Cap: CHF 432.8m

Develops, manufactures, and distributes chemical products and packaging solutions for pharmaceutical customers in Europe, Asia, and North and South America.

Outokumpu Oyj

Market Cap: €2.0b

Produces and sells various stainless steel products in Finland, Germany, Italy, the United Kingdom, other European countries, North America, the Asia-Pacific, and internationally.

Atalaya Mining Copper

Market Cap: UK£960.0m

Engages in the mineral exploration and development in Spain.

Holcim

Market Cap: CHF 35.8b

Provides building materials and solutions worldwide.

Grupa Azoty

Market Cap: zł1.8b

Manufactures and sells fertilizers, plastics, and other chemicals in Poland, Germany, South America, Asia, other European Union countries, and internationally.

Tokyo Steel Manufacturing

Market Cap: JP¥147.7b

Manufactures and sells various steel products in Japan, Asia, and internationally.

Aperam

Market Cap: €2.3b

Produces and sells stainless steel and alloy products worldwide.

Evonik Industries

Market Cap: €6.7b

Produces and sells specialty chemicals in the Asia-Pacific, Europe, the Middle East, Africa, Central and South America, and North America.

Titan

Market Cap: €2.7b

Engages in the production, trade, and distribution of construction materials in Greece, the Balkans, Egypt, Türkiye, the United States, and Brazil.

GCC. de

Market Cap: Mex$54.2b

Through its subsidiaries, produces, markets, and distributes cement, aggregates, ready-mix concrete, and other materials for the construction industry in Mexico and the United States.

Mitsubishi Gas Chemical Company

Market Cap: JP¥526.9b

Manufactures and sells basic and fine chemicals, and functional materials in Japan.

Vault Minerals

Market Cap: AU$4.7b

Engages in the exploration, mine development, mine operations and the sale of gold and gold/copper concentrate in Australia and Canada.

B2Gold

Market Cap: CA$9.4b

Operates as a gold producer company in Canada.

Methanex

Market Cap: CA$3.9b

Produces and supplies methanol in Asia Pacific, North America, Europe, and South America.

Henan Shenhuo Coal Industry and Electricity Power

Market Cap: CN¥47.9b

Henan Shenhuo Coal Industry and Electricity Power Co.

JCHX Mining ManagementLtd

Market Cap: CN¥42.6b

Engages in mine engineering, development, and construction activities in the People’s Republic of China and internationally.

Chifeng Jilong Gold MiningLtd

Market Cap: CN¥60.6b

Engages in mining, metallurgical processing, and sales of gold worldwide.

Sunstone Development

Market Cap: CN¥12.6b

Engages in the research and development, production, and sales of prebaked carbon anodes for the aluminum industry in China and internationally.

Zhongjin GoldLtd

Market Cap: CN¥123.6b

Engages in the mining, smelting, and sale of non-ferrous metals in China.

Cementir Holding

Market Cap: €2.3b

Operates in the building materials sector in Italy, Nordic and Baltic, Belgium, North America, Türkiye, Egypt, and the Asia Pacific.

TFF Group

Market Cap: €370.7m

Manufactures and distributes barrels and wood products for the aging of wines and alcohols in France, Europe, the United States, Asia, and internationally.