Global Materials Undervalued over 20% based on DCF

Oman India Fertiliser Company SAOG

Market Cap: ر.ع1.3b

Produces and trades granular urea and anhydrous ammonia fertilizers internationally.

Iskenderun Demir ve Çelik

Market Cap: ₺156.6b

Produces and sells flat steel products in Turkey.

Avient

Market Cap: US$3.3b

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

Luxi Chemical Group

Market Cap: CN¥22.2b

Manufactures and sells chemical and fertilizer products in China and internationally.

Titan America

Market Cap: US$3.1b

Through its subsidiaries, manufactures and supplies heavy building materials and services in the United States.

Centerra Gold

Market Cap: CA$4.4b

Engages in the operation, development, exploration, and acquisition of gold and copper properties in North America, Turkey, and internationally.

Vicat

Market Cap: €2.7b

Engages in the production and sale of cement, ready-mixed concrete, and aggregates for construction industry.

Stella-Jones

Market Cap: CA$4.3b

Manufactures and sells industrial pressure-treated wood products in Canada and the United States.

Inner Mongolia Berun Chemical

Market Cap: CN¥20.3b

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

SKSHU PaintLtd

Market Cap: CN¥20.3b

Produces and sells architectural coatings, waterproof materials, floor materials, thermal insulation materials and integrated thermal insulation boards, and base materials in China.

Jinhong GasLtd

Market Cap: CN¥20.2b

Produces and sells bulk, special, and natural gas products in China.

H.B. Fuller

Market Cap: US$3.0b

H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products.

Kansai Paint

Market Cap: JP¥475.7b

Manufactures and sells paints and coatings in Japan, India, China, Asia, Africa, Europe, and internationally.

Ashland

Market Cap: US$2.9b

Provides additives and specialty ingredients in the North and Latin America, Europe, Asia Pacific, and internationally.

Jiaxin International Resources Investment

Market Cap: HK$22.3b

Operates as a tungsten mining company focusing on the development of the Boguty Project based in the Republic of Kazakhstan.

Henan Mingtai Al.IndustrialLtd

Market Cap: CN¥18.9b

Engages in the production and sale of aluminum products in China.

DIC

Market Cap: JP¥441.9b

Manufactures and sells printing inks, organic pigments, and synthetic resins worldwide.

Outokumpu Oyj

Market Cap: €2.4b

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

Zeon

Market Cap: JP¥438.2b

Engages in the elastomer materials, specialty materials, and other businesses in Japan, North America, Europe, and Asia.

LINTEC

Market Cap: JP¥427.1b

Manufactures and sells adhesive-related products in Japan.

Quaker Chemical

Market Cap: US$2.6b

Quaker Chemical Corporation, doing business as Quaker Houghton, provides industrial process fluids worldwide.

Sichuan Hebang Biotechnology

Market Cap: CN¥17.2b

Provides agricultural, chemical, and new material products.

Tibet Huayu Mining

Market Cap: CN¥17.2b

Engages in mining, processing, exploration, and sale of lead, zinc, copper, and other nonferrous metals in China.

Adeka

Market Cap: JP¥401.6b

Engages in chemicals, food products, and life science businesses.

Alleima

Market Cap: SEK 23.8b

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

Orbia Advance Corporation. de

Market Cap: Mex$43.1b

Provides polymer solutions in the United States, Northwest Europe, Southwest Europe, Africa, the Middle East, Asia, Brazil, Mexico, Central and Eastern Europe, Colombia, Central America, Peru, Southeast Europe, Canada, Ecuador, Israel, Argentina, Chile, and internationally.

Keppel Infrastructure Trust

Market Cap: S$3.2b

Keppel Infrastructure Trust infrastructure services in Singapore, Australia, New Zealand, South Korea, and internationally.

C.UyemuraLtd

Market Cap: JP¥390.1b

Engages in the research, development, manufacture, and sale of surface treatment chemicals and machinery in Japan, Taiwan, China, and internationally.

Nizhnekamskneftekhim

Market Cap: ₽142.9b

Public Joint Stock Company Nizhnekamskneftekhim produces and sells petrochemicals in Russia.

Saudi Industrial Investment Group

Market Cap: ر.س8.8b

Operates as a petrochemical company in the Kingdom of Saudi Arabia, rest of the Middle East, Asia, Europe, and Africa.

Endeavour Silver

Market Cap: CA$3.2b

A silver mining company, engages in the acquisition, exploration, development, extraction, processing, refining, and reclamation of mineral properties in Mexico, Chile, Peru, and the United States.

Hyundai Steel

Market Cap: ₩3.4t

Engages in the manufacture and sale of steel and other industrial metal products in Korea, rest of Asia, the United States, and Europe.

NV Bekaert

Market Cap: €1.9b

Provides steel wire transformation and coating technologies worldwide.

Daicel

Market Cap: JP¥357.7b

Engages in the materials, medical/healthcare, smart, safety, and engineering plastics businesses in Japan and internationally.

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.

Denka

Market Cap: JP¥337.8b

Manufactures and sells organic and inorganic, electronic material, pharmaceutical, and resin-related products in Japan, Asia, and internationally.