Global Materials Undervalued based on future growth

Avient

Market Cap: US$2.9b

Operates as a formulator of material solutions in the United States, Canada, Mexico, Europe, South America, and Asia.

OYAK Çimento Fabrikalari

Market Cap: ₺115.5b

Engages in the production and sale of clinker and cement in Turkey.

Lucky Cement

Market Cap: PK₨750.3b

Manufactures and markets cement in Pakistan.

Ningbo Boway Alloy Material

Market Cap: CN¥18.2b

Researches, develops, manufactures, and sells non-ferrous alloy materials in Asia, Europe, North America, and internationally.

Billerud

Market Cap: SEK 23.8b

Provides paper and packaging materials worldwide.

Dongyue Group

Market Cap: HK$20.0b

An investment holding company, manufactures, distributes, and sells polymers, organic silicone, refrigerants, dichloromethane, liquid alkali, and other products in the People's Republic of China and internationally.

West African Resources

Market Cap: AU$3.8b

Engages in the mining, mineral processing, acquisition, exploration, and project development of gold projects in West Africa.

Innovation New Material Technology

Market Cap: CN¥16.6b

Innovation New Material Technology Co., Ltd.

Hubei Yihua Chemical Industry

Market Cap: CN¥16.3b

Produces and sells fertilizer, chlor-alkali, and fine chemical products in China.

Shanghai Huayi Group

Market Cap: CN¥16.1b

Operates as a chemical company in China.

West China Cement

Market Cap: HK$17.8b

An investment holding company, manufactures and sells cement and cement products in the People’s Republic of China, Mozambique, Ethiopia, Democratic Republic of Congo, Other African countries, and internationally.

Alleima

Market Cap: SEK 21.0b

Manufactures and sells stainless steels, special alloys, medical wires and components, and electric heating systems in Europe, North America, Asia, and internationally.

Chengdu Wintrue Holding

Market Cap: CN¥14.9b

Engages in the research and development, production, and sale of compound fertilizers.

Group of Companies Segezha

Market Cap: ₽127.9b

Group of Companies Segezha Public Joint Stock Company operates in the forestry industry in Russia and internationally.

Godawari Power & Ispat

Market Cap: ₹184.7b

Engages in the mining of iron ores in India.

Kumho Petro ChemicalLtd

Market Cap: ₩2.9t

Manufactures and sells synthetic rubber and resins, specialty chemicals, nanocarbon, energy, and building materials in South Korea and internationally.

Semapa - Sociedade de Investimento e Gestão SGPS

Market Cap: €1.7b

Through its subsidiaries, produces and sells pulp, printing and writing papers, and tissues in Portugal, the rest of Europe, the United States, Africa, Asia, and Oceania.

E.I.D.- Parry (India)

Market Cap: ₹176.7b

Engages in the manufacture and sale of sugar, nutraceuticals, and distillery products in India, North America, Europe, and internationally.

Elkem

Market Cap: NOK 19.7b

Engages in the provision of advanced material solutions worldwide.

Sylvamo

Market Cap: US$1.9b

Produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Europe, Latin America, and North America.

Sunstone Development

Market Cap: CN¥13.2b

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

RHI Magnesita

Market Cap: UK£1.3b

Develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide.

China XLX Fertiliser

Market Cap: HK$13.3b

An investment holding company, engages in the development, manufacture, and sale of urea primarily in Mainland China and internationally.

Shenzhen Batian Ecotypic Engineering

Market Cap: CN¥12.0b

Shenzhen Batian Ecotypic Engineering Co., Ltd.

Anhui Jinhe IndustrialLtd

Market Cap: CN¥11.5b

Engages in the research and development, production, and sales of food additives, daily chemical flavors, bulk chemicals, and intermediates.

Stanley Agriculture GroupLtd

Market Cap: CN¥11.4b

Engages in the research, development, production, and sale of compound and bulk blending fertilizers under the Stanley brand in China.

Lafarge Africa

Market Cap: ₦2.3t

Manufactures, markets, and sells cement and other cementitious products in Nigeria.

TIMAH

Market Cap: Rp26.3t

Engages in tin mining and smelting operations in Indonesia and internationally.

Nantong Jiangshan Agrochemical & ChemicalsLtd

Market Cap: CN¥10.8b

Engages in the research, development, production, and sale of pesticide products in China and internationally.

Shenzhen Noposion Crop Science

Market Cap: CN¥10.7b

Researches and develops, manufactures, distributes, and provides technical services for pesticides and fertilizers in China and internationally.

Sansteel MinGuangLtd.Fujian

Market Cap: CN¥10.6b

Manufactures and sells iron and steel products in China.

China BlueChemical

Market Cap: HK$11.6b

Engages in the processing of natural gas and the development, production, and sale of chemical fertilizers and chemical products in the People’s Republic of China and internationally.

Sinofert Holdings

Market Cap: HK$10.9b

An investment holding company, engages in the production, import and export, distribution, and retail of fertilizer raw materials and crop nutrition products in Mainland China and internationally.

Shandong Bohui Paper IndustryLtd

Market Cap: CN¥9.0b

Researches, develops, produces, sells, imports, and exports paper products in China.

Chemtrade Logistics Income Fund

Market Cap: CA$1.7b

Offers industrial chemicals and services in Canada, the United States, and South America.

Silvery Dragon Group Tianjin

Market Cap: CN¥8.7b

Researches, develops, manufactures and sells prestressed steel products in China and internationally.