Global Materials Undervalued based on future growth

Ta Chen Stainless Pipe

Market Cap: NT$117.6b

Manufactures, processes, and sells stainless steel pipes, plates, and fittings, and venetian blinds in Taiwan, the United States, China, and internationally.

Hunan Valin Steel

Market Cap: CN¥24.5b

Produces and sells steel products in China.

Aris Mining

Market Cap: CA$5.0b

Engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana.

Yongxing Special Materials TechnologyLtd

Market Cap: CN¥24.5b

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

Henan Zhongfu IndustrialLtd

Market Cap: CN¥24.3b

Processes, manufactures, and sells electrolytic aluminum and aluminum products in China.

Pan African Resources

Market Cap: UK£2.5b

Engages in the mining, extraction, production, and sale of gold in South Africa.

Inner Mongolia Berun Chemical

Market Cap: CN¥22.0b

Produces and sells soda ash, baking soda, fertilizers, and other chemical products in China.

Trimegah Bangun Persada

Market Cap: Rp58.3t

PT Trimegah Bangun Persada TBK engages in the nickel ore mining and processing in Indonesia and distributes the products to China, Switzerland, Hong Kong, Sweden, and Singapore.

Graphic Packaging Holding

Market Cap: US$3.2b

Engages in the design, production, and sale of consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products in the Americas, Europe, and the Asia Pacific.

HBIS

Market Cap: CN¥21.2b

Hbis Company Limited produces and sells steel products in China and internationally.

Fortuna Mining

Market Cap: CA$4.3b

Engages in the precious and base metal mining and related activities in Argentina, Côte d’Ivoire, Mexico, Peru, and Senegal.

West African Resources

Market Cap: AU$4.3b

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

Shandong Humon Smelting

Market Cap: CN¥20.5b

Engages in smelting of gold in China and internationally.

Vale Indonesia

Market Cap: Rp53.5t

Engages in the mining and processing of nickel in Indonesia.

Dongyue Group

Market Cap: HK$21.0b

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.

Indah Kiat Pulp & Paper

Market Cap: Rp47.2t

Manufactures and sells cultural paper, pulp, tissue, and industrial paper in Indonesia, Asia, the United States, Australia, the Middle East, Africa, and Europe.

YONFER Agricultural Technology

Market Cap: CN¥17.2b

Engages in the research, development, production, and marketing of fertilizers in China.

Shanghai Huafon Aluminium

Market Cap: CN¥16.6b

Engages in the research and development, production, and sales of aluminum sheets, strips, and foils.

Wienerberger

Market Cap: €2.1b

Produces and sells clay blocks, facing bricks, roof tiles, and ceramic pavers in Europe West, Europe East, and North America.

Chengdu Wintrue Holding

Market Cap: CN¥15.4b

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

OYAK Çimento Fabrikalari

Market Cap: ₺106.4b

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

NV Bekaert

Market Cap: €1.8b

Provides steel wire transformation and coating technologies worldwide.

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.

Zhejiang Runtu

Market Cap: CN¥13.9b

Engages in the production and sale of dyes in China and internationally.

Nanshan Aluminium International Holdings

Market Cap: HK$16.2b

An investment holding company, engages in the production and sale of alumina in Malaysia, Hong Kong, India, Switzerland, Singapore, the United States of America, Indonesia, and South Korea.

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.

Hubei Yihua Chemical Industry

Market Cap: CN¥13.7b

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

Innovation New Material Technology

Market Cap: CN¥13.5b

Innovation New Material Technology Co., Ltd.

Atalaya Mining Copper

Market Cap: UK£1.4b

Engages in the mineral exploration and development in Spain.

Tongguan Gold Group

Market Cap: HK$15.0b

An investment holding company, engages in gold mining operations in China.

Ora Banda Mining

Market Cap: AU$2.7b

Engages in the exploration, operation, and development of mineral properties and mining in Australia.

RHI Magnesita

Market Cap: UK£1.4b

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

Archi Indonesia

Market Cap: Rp32.8t

Through its subsidiaries, engages in gold and silver mining business in Indonesia.

Lizhong Sitong Light Alloys Group

Market Cap: CN¥12.3b

Engages in the research, design, manufacture, and sale of functional master alloys, recycled cast aluminum alloy materials, and aluminum alloy wheel products.

Mayr-Melnhof Karton

Market Cap: €1.6b

Manufactures and sells carton boards, paper, and folding cartons primarily in Europe.

Tokuyama

Market Cap: JP¥286.7b

Produces and sells various chemical products in Japan, Asia, and internationally.