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

0510 GMT - Profit growth of Toray Industries' carbon fiber composite materials segment looks positive, SMBC Nikko Securities analysts say, noting stronger-than-expected growth in 1Q of this FY. Carbon fiber composite materials segment's core operating profit increased 71% in 1Q, with growth for all major applications in addition to higher shipments for Boeing 787 Dreamliner, the analysts say in a note. This growth seems sustainable, says the brokerage, which expects the segment to keep reporting major profit growth for a while. The brokerage raises the stock's target price to 1,700 yen from Y1,300 with an unchanged outperform rating. Shares are 1.1% higher at Y1,348.5. (ronnie.harui@wsj.com)

0400 GMT - The cost environment for miners "has shifted materially" as a result of the conflict in the Middle East, BHP says in its FY results. Higher energy prices have raised inflation across key regions, it says. In Australia, that's added to already elevated domestic inflation, says the miner. For Chile and Canada, it is reigniting pressure after inflation had started to ease back towards central-bank targets, it says. BHP notes that disruption to trade flows through the Strait of Hormuz has also put "significant upward pressure" on sulfuric acid, diesel and ammonia markets. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0351 GMT - Beijing is expected to reaccelerate fiscal support in 2H, helping to keep economic growth in China broadly consistent with the official 4.5%-5% target range for 2026, according to BHP, the world's No. 1 miner. China's economic momentum has slowed recently, weighed down by muted consumer spending and slumping investment. "While growth remains uneven across sectors, with domestic demand softer and the property sector continuing to act as a drag, exports have continued to perform strongly, helping to sustain industrial activity and demand for imported raw materials," BHP says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0338 GMT - BlueScope Steel enters FY27 with strong earnings momentum, says Morgan Stanley. The ASX-listed steelmaker is pursuing more cost savings, and value-added growth is progressing. Meanwhile, U.S. steel spreads look supportive near term, the bank says. That said, "Asian spread assumptions are more demanding and ASP [Australian Steel Products] profitability remains subdued," it says. MS raises its target on the stock to 34.00 Australian dollars a share from A$32.35/share, and reiterates an equal-weight rating. Shares are up 1.7% at A$33.50, rebounding from a 2.2% loss on Monday. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0216 GMT - BHP's consensus-beating annual results top off what was a very good year for the world's No. 1 miner, says Jefferies. The growth in BHP's copper earnings--to account for 54% of annual underlying Ebitda--partially justifies a rerating of BHP's equity valuation over the past year, it says. "This is an excellent set of results for BHP," the bank says. While Jefferies thinks BHP's shares could gain further in the coming six months or so, it does expect company-specific tailwinds to subside. Volumes in Chile are now expected to decline, it says, adding that the increase in Ebitda from FY 2025 to FY 2026 was almost entirely due to the impact of higher prices. Jefferies reiterates a hold rating. It has a A$65.00 target on the stock. Shares are up 3.0% at A$64.09. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0128 GMT - Zijin Gold International gains a new bull at Citi Research with its gold volume growth outpacing peers. This is likely due to the Chinese gold miner benefiting from newly acquired assets and expansions while carrying out effective cost control measures, the Citi analysts say in a note. The company's average acquisition cost is below the sector's, thanks to its use of the mergers and acquisitions team from parent company Zijin Mining. Citi expects Zijin Gold's equity-attributable gold output to grow at a 17% compound annual growth rate over 2025-2028. Citi initiates coverage with a buy rating and target price of 178.00 Hong Kong dollars. Shares are up 5.0% at HK$141.80. (megan.cheah@wsj.com)

0100 GMT - Gold rises in early Asian trade. Easing expectations of Federal Reserve rate hikes are likely placing downward pressure on the dollar, say ANZ Research analysts, who cite a trade-weighted gauge of the currency hitting its lowest level since May. This makes dollar-denominated gold cheaper for many buyers and has likely triggered renewed investment demand. Strong central-bank gold-buying is also supporting the precious metal, they note. Spot gold is up 0.2% at $4,429.15 an ounce. (megan.cheah@wsj.com)

0009 GMT - BHP's FY 2026 dividend beat and in-line FY 2027 guidance should be reasonably well received by the market, says RBC Capital Markets analyst James Redfern. BHP's annual payout of US$1.72 a share is its highest in four years and above Visible Alpha consensus of US$1.54 a share. "Along with the dividend, a key focus is new FY27 guidance for unit costs and capex," says Redfern. While forecast unit costs at Western Australia Iron Ore are 2% higher than consensus, projected costs at Escondida are 4% below consensus, he says. RBC has a sector perform rating and A$57.00 target on BHP shares. The stock is up 2.9% early in Sydney at A$63.97. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

1838 GMT - OceanaGold's acquisition of western Australia's Ausgold should help supplement production while it develops its Wharekirauponga project in New Zealand. TD Bank's Wayne Lam says that the deal for about $549 million provides OceanaGold with "a medium term growth asset with first gold targeted in 2029, helping to bridge the gap to ongoing development of WKP where first ore is guided in 2032." Lam says the addition also helps offset a potential decline in the production profile at OceanaGold's Macraes operation in New Zealand while preserving balance sheet flexibility to fund ongoing growth initiatives and continued return of capital. OceanaGold is up 3.6% to C$41.18. (adriano.marchese@wsj.com)

1059 GMT - Palm oil ended higher, as the July Malaysian Palm Oil Board report showed growth in both production and demand in origin countries, noted Nanhua Futures. Prices are likely to find some support as valuation drops, alongside its previous pullback and long-term supply contraction, they say. The Bursa Malaysia Derivatives contract for November delivery rose 12 ringgit to 4,819 ringgit a ton, according to LSEG. (tracy.qu@wsj.com)

0821 GMT - Gold rises as investors pare back bets of an imminent interest-rate hike. In morning European trade, New York gold futures are 0.5% higher at $4,458.20 a troy ounce. The precious metal continues a two-week advance after weaker U.S. retails sales and softer consumer sentiment weighed on the dollar and reduced expectations of a rate hike, MUFG's Soojin Kim writes. Higher interest rates make non-yielding assets like gold less attractive. "Wednesday's Fed minutes, U.S. economic data and developments around Hormuz will be key drivers of gold, particularly through their impact on rate expectations," she adds.