Global Materials Undervalued over 20% based on DCF

China XLX Fertiliser

Market Cap: HK$15.3b

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

C.UyemuraLtd

Market Cap: JP¥306.5b

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

Winpak

Market Cap: CA$2.6b

Manufactures and distributes packaging materials and related packaging machines in the United States, Canada, and Mexico.

Denka

Market Cap: JP¥293.9b

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

Bellevue Gold

Market Cap: AU$2.5b

Engages in the exploration, development, mining, and processing of gold properties in Australia.

5N Plus

Market Cap: CA$2.5b

Produces and sells specialty semiconductors and performance materials in the Americas, Europe, Asia, and internationally.

Stanmore Resources

Market Cap: AU$2.5b

Engages in the exploration, development, production, and sale of metallurgical coal in Australia.

Advanced Petrochemical

Market Cap: ر.س6.4b

Engages in the production and sale of propylene, polypropylene, isopropyl alcohol, polysilicon, and polysilicon downstream products in the Kingdom of Saudi Arabia and internationally.

Borregaard

Market Cap: NOK 15.9b

Engages in the development, production, and marketing of specialized biochemicals and biomaterials in Norway, rest of Europe, Asia, the United States, and internationally.

Yangzhou Tinfulong Group

Market Cap: CN¥11.5b

Engages in the research, development, production, and sale of differentiated polyester staple fibers in China and internationally.

Fujimi

Market Cap: JP¥267.8b

Manufactures and sells synthetic precision abrasives in Japan, North America, Asia, and Europe.

Hemlo Mining

Market Cap: CA$2.3b

Engages in the production and operation of gold mining assets in Canada.

Tata Chemicals

Market Cap: ₹159.6b

Manufactures, markets, sells, and distributes basic chemistry and specialty products in India, Asia, Africa, Europe, the United Kingdom, the Americas, and internationally.

Zhongfu Straits (Pingtan) Development

Market Cap: CN¥11.2b

Engages in the afforestation and forest management in China.

Aica Kogyo Company

Market Cap: JP¥260.2b

Manufactures and sells chemical products in Japan, China, rest of Asia, Oceania, and internationally.

DeHua TB New Decoration MaterialLtd

Market Cap: CN¥10.9b

Produces and sells furniture boards in China and internationally.

Aluar Aluminio ArgentinoI.C

Market Cap: AR$2.4t

Engages in the production and sale of aluminum products in Argentina and internationally.

Osaka Soda

Market Cap: JP¥245.4b

Manufactures and sells basic and functional chemicals products in Asia, Europe, North America, and internationally.

E.I.D.- Parry (India)

Market Cap: ₹146.2b

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

ERAMET

Market Cap: €1.3b

Produces and sells manganese and nickel metals in Asia, Europe, North America, and internationally.

Klöckner & Co

Market Cap: €1.2b

Engages in the distribution of steel and metal products in Germany, Switzerland, France, the United States, and internationally.

Minerals 260

Market Cap: AU$2.0b

Engages in the exploration and evaluation of mineral resources in Australia.

Caltagirone

Market Cap: €1.2b

Through its subsidiaries, engages in the construction business in Italy, Denmark, Belgium, the United States, Turkey, Egypt, China, Malaysia, Australia, and internationally.

Siam City Cement

Market Cap: ฿45.3b

Manufactures, imports, exports, and sells cement and cement related products in Thailand, Vietnam, Sri Lanka, Singapore, Australia, Cambodia, Bangladesh, Indonesia, India, Dubai, and internationally.

Shanghai Zijiang Enterprise Group

Market Cap: CN¥9.2b

Shanghai Zijiang Enterprise Group Co., Ltd.

Wuxi Paike New Materials TechnologyLtd

Market Cap: CN¥9.1b

Wuxi Paike New Materials Technology Co.,Ltd.

Nan Pao Resins Chemical

Market Cap: NT$42.6b

Engages in the manufacturing, wholesale, and retail sale of synthetic resins and plastics, adhesives, resin coatings, dyes, and pigments in Taiwan, rest of Asia, Oceania, Europe, Africa, and America.

Corbion

Market Cap: €1.1b

Provides lactic acid and derivatives, food preservation solutions, functional ingredient systems, and algae-derived nutritional ingredients in the Netherlands, the United States, Asia, rest of Americas, the rest of Europe, the Middle East, and Africa.

COFCO Biotechnology

Market Cap: CN¥8.9b

Engages in the processing of agricultural products in China.

Imdex

Market Cap: AU$1.8b

A mining-tech company, provides drilling products, rock knowledge and geophysical sensors, and data and analytics for the minerals industry in the Asia-Pacific, the Middle East, Africa, Europe, and the Americas.

Qassim Cement

Market Cap: ر.س4.9b

Manufactures and sells cement and related products in the Kingdom of Saudi Arabia.

Ryerson Holding

Market Cap: US$1.3b

Processes and distributes industrial metals in the United States and internationally.

Boubyan Petrochemical Company K.S.C.P

Market Cap: د.ك401.2m

Manufactures and sells petrochemical products in Kuwait, other MENA countries, Asia, South America and North America, and internationally.

Suncrete

Market Cap: US$1.3b

Provides ready-mix concrete logistics and distribution platform serving construction markets in the United States Sunbelt region.

Yodoko

Market Cap: JP¥204.7b

Engages in the manufacture and sales of steel products for industrial and consumer products in Japan.

Yong Jie New MaterialLtd

Market Cap: CN¥8.5b

Engages in the research and development, manufacture, and sale of aluminum alloy products worldwide.