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

0631 GMT - Posco Holdings could face downside risk from weaker lithium prices as it diversifies beyond steel, say Cindy Park and Dongmin Lee at Nomura. The analysts cite the recent decline in lithium prices as a near-term risk for the South Korean steelmaker, which owns battery-material supplier Posco Future M. Lithium prices fell to $19,587 a tonne on Sep. 27 from $29,205 on May 12, they note. The company also faces a potential increase in China's steel output and exports, they add. Nomura downgrades the stock to neutral from buy and cuts its target price to 330,000 won from 450,000 won. Shares are 2.4% lower at 310,500 won. (kwanwoo.jun@wsj.com)

0201 GMT - UACJ's earnings are likely to be supported by resilient U.S. profitability and elevated aluminum prices, Jefferies analysts say in a note. The Japanese aluminum maker is also benefiting from strong demand for semiconductor equipment plates, data center-related applications, aerospace and defense materials and expanding recycling operations in the U.S. and Thailand, the bank says. Furukawa Electric's recent sale of a 7% stake in UACJ removes a major overhang for the stock, the analysts say. Jefferies raises its rating on the stock to buy from hold and its target price to 3,000 yen from Y2,700. Shares are 2.5% higher at Y2,237. (kosaku.narioka@wsj.com; @kosakunarioka)

0110 GMT - Glencore's ASX debut, due on Oct. 14, comes at a time of improving operational and financial performance for the miner, says UBS. Glencore's Ebitda jumped in FY 2026 and copper's contribution to earnings is rising, progressively reshaping its portfolio away from thermal coal, UBS says. "The Marketing division remains a key differentiator versus BHP and RIO, providing earnings diversification that can behave differently from mining operations through the commodity cycle," says the bank. Still, UBS says BHP remains the sector leader for earnings scale and durability. "Unlike peers where a larger proportion of future value creation is tied to project execution, BHP's earnings are predominantly generated by operations already running at scale, including the world's largest listed copper franchise and the sector's most profitable iron ore business," it says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0051 GMT - Gold producer Regis Resources posts a soft start to FY 2027, says Citi. The miner's 1Q production result of 83,000 troy ounces is 12% below Citi's expectations and 9% weaker than consensus, the bank says. "Whilst the in-line cash build despite the production miss suggests better cost control, we await the full quarterly report for more detail," says Citi. Regis plans to publish its full 1Q production result on Oct. 20. Citi notes that Regis has reiterated full-year guidance. "We expect FY27 production to land in the lower half range," the bank says. It has a neutral rating and a target price of 7.90 Australian dollars on Regis. The stock is down 2.0% at A$7.045. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0037 GMT - Gold edges lower in Asian trade. Investors could be waiting for the Federal Reserve's September meeting minutes due Wednesday in the U.S. for fresh clues on its monetary policy outlook, says UOB's Global Economics & Markets Research team in a note. A higher interest-rate environment typically weighs on nonyielding assets such as gold. Spot gold declines 0.2% to $4,156.50 a troy ounce. (megan.cheah@wsj.com)

1850 GMT - Gold futures snap a two-session losing streak as the U.S. dollar pulls back and yields ease. The outlook for gold remains fragile despite the recovery, Fawad Razaqzada of Forex.com says in a note. "While dovish Federal Reserve repricing and lower oil prices in the last couple of days has provided some support, the metal is still undermined by the elevated yields and the risk that oil prices may rebound and create fresh volatility for financial markets," he says. Uncertainty over the U.S.-Iran situation is a source of pressure, while central bank buying means downside is also limited, he adds. Front month gold settles up 0.7% in New York at $4,159.20 a troy ounce. Silver gains 0.5% to $61.168 a troy ounce. (anthony.harrup@wsj.com)

1642 GMT - Gold futures attempt a recovery as the U.S. dollar eases from yesterday's 18-month high. "Softer oil prices today are adding a further tailwind for bullion," Kaynat Chainwala of Kotak Neo says in a note. Lower expectations for a Fed October interest-rate increase are also supportive, she adds. "Attention now turns to Wednesday's FOMC minutes, which should offer more clarity on how divided policymakers are over the path ahead." Gold for December delivery is up 0.8% in New York at $4,190.30 a troy ounce. Silver is up 0.5% at $61.63 a troy ounce. (anthony.harrup@wsj.com)

1014 GMT - Palm oil prices ended lower as profit-taking activities emerged following Monday's strong rebound, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Softer crude oil prices and concerns over elevated domestic inventories weighed on sentiment, he adds. Ng sees prices to find support at 4,500 ringgit a ton and face resistance at 4,650 ringgit a ton. The Bursa Malaysia Derivatives contract for December delivery ended 18 ringgit lower at 4,560 ringgit a ton.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

0932 GMT - A successful takeover of Kenmare Resources would be a further blow to the embattled London bourse, AJ Bell's head of markets, Dan Coatsworth, writes. "While the investor audience for Kenmare is relatively niche, losing it would still be a crying shame given it has been a long-standing name in the U.K.-quoted mining space," he says. The Mozambique-focused titanium minerals producer said it received a takeover approach from International Resources Holdings, an Abu Dhabi-based mine-to-market natural resources extractive company. Kenmare said talks are continuing, but didn't disclose any financial details or terms being discussed. Kenmare shares are up 28% at 232 pence, but are down 5.7% over the year to date.