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

0419 GMT - Lotte Chemical Titan may see sustained heavy losses in 1Q and over the next three years due to a weak petrochemical cycle and margin pressures, Maybank IB analyst Jeremie Yap says in a note. He widens the chemicals company's 2025-2026 net loss estimates, factoring in higher input naphtha costs and lower operating rates following 4Q 2024's losses. Maybank cuts Lotte's target price to MYR0.39 from MYR0.91, while maintaining a sell rating on the stock due to a negative view on petrochemical sector. Shares are 6.1% lower at MYR0.54 (yingxian.wong@wsj.com)

0135 GMT - Press Metal Aluminium's earnings outlook may remain positive, supported by favorable aluminum prices and easing alumina costs, Affin Hwang IB analyst Andrew Lim says in a note. The global aluminum market may face a supply deficit in 2025, with demand driven by potential interest rate cuts and China's stimulus, he says. Lim raises Press Metal's 2025-2026 earnings forecast by 8% each on higher LME aluminum price estimates and a stronger ringgit. A key catalyst could come in 2028 if the company secures new hydropower for aluminum production, he adds. Affin Hwang raises Press Metal's target price to MYR5.70 from MYR5.30 and maintains a buy rating. Shares are 0.2% lower at MYR4.98. (yingxian.wong@wsj.com)

1836 GMT - After consecutive days of record closes, front-month gold futures fall back--slipping 0.5% to $2,856 a troy ounce. It's still the second-highest close in the front-month contract's history. Despite today's respite, analysts think gold will move even higher. "The uncertainty over trade and tariffs will continue to buoy gold prices," says ING Economics in a note. "If trade tensions intensify and we see more retaliatory measures, safe haven demand for gold will continue." The firm adds that gold ETF demand has also seen a burst in recent sessions, this after being constrained in 4Q. SPDR Gold is down 0.4%. (kirk.maltais@wsj.com)

1455 GMT - Aurubis' first quarter is likely to have been the strongest period of fiscal 2025, Warburg analyst Stefan Augustin says in a research note. The German supplier of non-ferrous metal and recycler of copper stated that the first quarter was positively influenced by a significantly higher metal result, more than compensating for a year-over-year drop in treatment and refining charges. The anticipated lower treatment and refining charges will be felt from next quarter onward, Augustin says. Copper concentrate treatment and refining charges--also known as TC/RCs--are paid by mining companies to smelters. Shares trade 5.1% higher at 78.50 euros. (nina.kienle@wsj.com)

1355 GMT - Natural resources companies should weather the tariff storm if imposed, Morningstar DBRS suggests. Although U.S. tariffs on imports from Canada and Mexico have been delayed, the threat remains. Morningstar says there would be short-term disruptions in trade flows until supply chains are rebalanced if the levies are imposed. Yet it doesn't expect mining companies to scale back production and would instead deliver on operational guidance provided for 2025. The robust commodity prices that have persisted over the past few years have allowed mining companies to significantly reduce debt levels and consequently they have strong credit metrics, Morningstar says. (robb.stewart@wsj.com)

1347 GMT - Steelmaker ArcelorMittal says it intends to build a plant in Alabama to produce the paper-thin steel used in the motors of electric vehicles, air conditioners and other products. Construction of the $1.2-billion plant at ArcelorMittal's steel mill near Mobile, Ala., will start later this year. Production is projected to begin in 2027. The plant will be able to produce about 165,000 tons a year. Production of electric vehicles is expected to drive higher demand for electrical steel, which accounts for about 1% of the worldwide steel production annually with most of it now in Asia. The only U.S. producers of electrical steel are Cleveland-Cliffs and U.S. Steel, which recently began production in Arkansas. (robert.tita@wsj.com )

1240 GMT - Suncor Energy logged a strong 4Q performance that caps off an exceptional year and reinforces a bullish medium- to longer-term outlook, RBC Capital Markets' Greg Pardy says. Adjusted funds from operations per share came in 6% higher that the analyst expected and the consensus forecast, while total production was in line. Suncor affirmed 2025 guidance that points to production of 810,000-840,000 bbl/day. RBC has an outperform call and C$65 target on the shares, which last closed at C$55.44. (robb.stewart@wsj.com)

1234 GMT - Suncor Energy's 4Q adjusted funds from operations came in 10% above the expectations of Raymond James, despite the Canadian company pre-releasing production and refining throughput figures. Analyst Michael Barth says the beat seems to largely be driven by lower corporate costs. He notes Suncor's 2025 guidance was unchanged. Barth expects the market to react positively to the results, given the renewal of is share buyback program is anticipated in late-February and Suncor has ample capacity to start the new program strong. Raymond James has a market perform stance on shares, which are up 8% in 2025 and 29% over the last 12 months. (robb.stewart@wsj.com)

1153 GMT - Anglo American investors have focused on the fact that fourth-quarter copper production was ahead of expectations rather than the weak pricing, RBC Capital Markets analysts Ben Davis and Marina Calero write. Prices were generally below consensus, they write. Copper pricing missed expectations by 4%, while iron ore pricing missed by around 7%, they add. The cut to diamond production was more than expected as Anglo hopes to put a floor under diamond prices, the analysts write. Shares trade up 6.5% at 2483.5 pence. (adam.whittaker@wsj.com)

1147 GMT - Anglo American's preparations to write down the value of its De Beers unit shows why it is so keen to jettison the business, says AJ Bell's investment director Russ Mould. The London-listed miner cut 2025 diamond production guidance as it looks to stabilize supply while clearing its large inventory, he says. De Beers cut prices by 10% to 15% in its last auction of 2024 as demand faltered, he says. It remains to be seen whether Anglo American is vulnerable to a bid from a rival after it fought off interest from BHP last year, he adds. Shares trade up 6.5% at 2483.5 pence. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

February 07, 2025 04:20 ET (09:20 GMT)

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