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

0626 GMT - D&L Industries' Batangas plant in the Philippines will likely be earnings-accretive by end-2025 due to sustained demand, making this the company's key growth catalyst, Maybank Securities' Daphne Sze says in a research report, as the brokerage maintains the stock's buy rating. This plant contributed roughly 40% of the food ingredients and industrial chemicals maker's 4Q net income, with the plant's profitability expected to fluctuate each quarter in 2025 as it continues to ramp up production orders, the analyst says. However, the brokerage lowers its 2025 and 2026 earnings forecasts for the company by 5% and 6%, respectively, to reflect factors including lower gross-profit-margin assumptions for food ingredients and oleochemicals. It trims its target price to PHP7.90 from PHP8.10. (ronnie.harui@wsj.com)

0614 GMT - Glencore should use some of its internal cash flows and funds from asset sales to boost shareholder returns through dividends and share buybacks, Berenberg analysts write. They say the commodities giant should sell the Kazzinc asset in Kazakhstan while gold prices are helping to drive better returns and explore the sale of 5%-10% of its marketing business. They say these actions could drive a higher rating for the company without having to consider a move of its main listing from London, which the company is reviewing. Berenberg has initiated coverage of the stock with a buy rating and 380 pence target price. Shares closed Monday at 315.30 pence. (ian.walker@wsj.com.)

0357 GMT - The Malaysian oil & gas upstream services sector is set for a strong 2025, benefiting from stable demand and tight offshore service vessel supply, Kenanga IB analyst Lim Sin Kiat says in a note. With most upstream stocks undervalued, he views valuations as unjustifiably under pressure. A weak near-term outlook for the downstream segment belies a potential demand recovery, supported by improving global PMI readings that signal stronger manufacturing activity, and could drive upside surprises for Malaysian stocks, he notes. Kenanga stays overweight on the Malaysian oil & gas sector, pegging Petronas Chemicals, Dayang Enterprise, and Keyfield International as its top picks. (yingxian.wong@wsj.com)

0143 GMT - BRC Asia's near- to medium outlook appears more positive, UOB Kay Hian analysts say in a research report as they raise the stock's target price to S$2.76 from S$2.52. For the medium-term, the steel mesh manufacturer expects a favorable outlook thanks to factors such as strong demand from upcoming infrastructure projects in Singapore, the analysts note. The Singapore-listed company's order book is robust, totaling S$1.5 billion as at end-1Q FY 2025, says the brokerage, which anticipates that BRC Asia will deliver half of its current order book in next 3-4 quarters as volumes recover. However, the brokerage maintains a hold rating on the stock as it looks fully valued at current levels. Shares are 1.0% lower at S$2.98. (ronnie.harui@wsj.com)

1322 GMT - Commodities largely saw a drop in long positions for the week ended March 4, according to data from the CFTC released Friday. In its Commitments of Traders report, the CFTC said managed money traders reduced long positions in many commodities--notably grains, livestock, and metals. This weakness came even though the U.S. dollar fell, which is typically supportive for commodities as a weaker dollar tends to mean that U.S. commodity exports are more competitively priced versus competitors. "A second week of broad and accelerated risk aversion and rising volatility saw all sectors and most contracts covered in this update being exposed to net selling," says Ole Hansen of Saxo Bank in a note. (kirk.maltais@wsj.com)

1131 GMT - Shares in London-listed miners fell on Chinese deflation fears and the prospect of a recession in the U.S. In European late morning trade, Copper miner Antofagasta was the largest faller. It's shares traded down 3.6% at 1778.50 pence, while Anglo American fell 2.7% to 2317.50 pence. Silver and gold miner Fresnillo fell 1.5% to 836.00 pence, and Glencore fell 0.6% at 317.10 pence. Data showed that China's inflation rate was negative in February and domestic demand was weak, provoking concerns given the threat tariffs could pose to the country's exports, AJ Bell's Russ Mould writes. Separately, President Trump on Sunday refused to rule out a recession in the U.S. this year. (adam.whittaker@wsj.com)

1018 GMT - Palm oil ended lower amid data showing weaker exports. Malaysia's palm oil exports fell 16% on month to 1.00 million metric tons in February, according to the Malaysian Palm Oil Board. Weak soybean oil prices also contributed to the decline in CPO prices, said David Ng, a trader at Kuala Lumpur-based Iceberg X. Ng sees support for CPO prices at 4,450 ringgit/ton and resistance at 4,700 ringgit/ton. The Bursa Malaysia Derivatives contract for May delivery is 123 ringgit lower at 4,502 ringgit/ton.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

March 11, 2025 04:20 ET (08:20 GMT)

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