The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0032 GMT - South32's 3Q production was in line with market expectations with the exception of its Cannington mine, Jefferies analyst Mitch Ryan says in a note. "While we expect pricing for sales to remain somewhat volatile with the overhang of tariffs and shifting global supply chains, FX tailwinds and stable operating conditions suggest H2 margins should remain relatively robust," Ryan says. Jefferies has a hold rating and A$3.20 target on the stock, which is down 0.8% at A$2.65. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0026 GMT - BHP reported robust 3Q output and, importantly, has been able to find a way to avoid the sharp reduction in Escondida output beyond FY27, says Citi analyst Paul McTaggart. "We don't have details but it includes extending the life of the oldest concentrator beyond FY29," he says in a note. That's "a good outcome for Escondida following the disappointments of the November site visit last year," McTaggart adds. Citi has a buy rating and A$45.00 target on BHP, which is up 0.5% at A$36.24. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0925 GMT - Rio Tinto's 1Q copper production was 6% above consensus expectations due to higher grades at its Escondida mine, while bauxite production was 5% above due to a strong performance in Guinea, Barclays analysts write. Overall, the miner delivered a soft quarter as Australian shipments of iron ore were weak due to losses sustained from four cyclones, they write. Its London-listed shares trade down 1.2% at 4,299 pence. (adam.whittaker@wsj.com)

0824 GMT - 'Long gold' ends a 24-month streak for 'long Magnificent 7' as the most crowded trade, Bank of America's April global fund manager survey shows. 'Long gold' is cited as the most crowded trade by 49% of investors surveyed by BofA, followed by 24% mentioning 'long Magnificent 7', a reference to Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla stocks. Gold is also expected to be the best performing asset in 2025 according to 42% of investors, up from 23% in March. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

April 17, 2025 04:20 ET (08:20 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.