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

0819 ET - Talon Metals' decision to use its existing processing facility in Michigan rather than build a new one in North Dakota should ease capex pressure. In a report, TD Cowen's Craig Hutchison says that the company has opted to use the existing Humboldt Mill as the processing facility for its Tamarack Nickel-Copper-Cobalt Project, which is a "positive development for Tamarack, given the potential for meaningful capex reduction and development de-risking." He notes that while some costs will go up, such as transportation, the "potential capital savings will outweigh the incremental increase in operating costs." (adriano.marchese@wsj.com)

0608 ET - Palm oil fell during the Asian trade, erasing earlier gains. Concerns over rising stockpiles and a weaker-than-expected export performance highlighted in the latest data from the Malaysian Palm Oil Board may have weighed on sentiment, Kenanga Futures writes in a note. The Bursa Malaysia Derivatives contract for November delivery fell 67 ringgit to 4,818 ringgit a ton. (kimberley.kao@wsj.com)

0512 ET - Norsk Hydro's fourth-quarter Ebitda faces risks from disrupted natural-gas supply and cost uncertainty, J.P. Morgan analysts write. The Iran-U.S. conflict continues to impact the aluminum industry, after Norsk Hydro announced in August that disruptions to natural-gas supply at its Alunorte alumina refinery led to a temporary curtailment. That led management to implement contingency measures including purchasing natural-gas volumes at spot prices. While the impact on third-quarter earnings is material on its own, the bank remains concerned regarding the potential impact if Norsk Hydro needs to secure additional spot liquefied natural gas volumes into the fourth quarter. The bank downgrades Norsk Hydro stock to neutral from overweight and lowers its price target to 97 Norwegian kroner from 116 kroner. Shares fall 2% to 89.14 kroner. (dominic.chopping@wsj.com)

0429 ET - BASF selling down its stake in Harbour Energy removes an overhang from the stock and is positive for the London-listed energy company, Barclays analyst Lydia Rainforth writes. The sale improves the stock's free float and reduces the risk of future large block disposals, she says. A major shareholder selling down its large stake is an important step for Harbour Energy, she adds. The company remains well positioned with a growing exposure to the U.S. as well as to high oil and gas prices, she says. The sale cuts BASF's stake to 16.4% from 24.3%. Harbour's shares fall 3% to 269.4 pence. (adam.whittaker@wsj.com)

0319 ET - Comex gold futures are likely consolidating above support at $4,300 per ounce, based on the daily chart, RHB Retail Research's Aiman Kamil Bin Ahmad Shauqi says in a research report. Latest price movements show weak momentum, in line with the relative strength index, which is trending horizontally, the analyst says. At this juncture, however, the 20- and 50-day simple moving averages continue to trend upward, supporting the bullish technical setup. Once bullish momentum picks up again, the commodity should resume its uptrend toward initial resistance at $4,500 per ounce, the analyst adds. Spot gold is 0.7% higher at $4,350.60 per ounce. (ronnie.harui@wsj.com)

0207 ET - Artificial-intelligence-driven growth for Sumitomo Bakelite's encapsulants--used to protect semiconductors--isn't fully priced in, SMBC Nikko Securities analysts say in a research report. Markets have yet to completely factor in ramp-up in the company's encapsulant shipment volumes related to next-generation graphics processing units and higher average selling prices from an improving product mix, the analysts say. AI data centers and physical AI are expected to be key growth drivers for the Japanese semiconductor materials manufacturer's encapsulants. The brokerage upgrades the stock's rating to outperform from neutral and raises the target price to 10,200 yen from Y7,100. Shares are 2.1% higher at Y7,667. (ronnie.harui@wsj.com)

2244 ET - The Southeast Asian plantation sector's earnings could continue to grow thanks partly to higher crude palm oil prices, RHB analyst Hoe Lee Leng and her team say in a note. Malaysian palm oil stocks rose 7.5% on month to 2.82 million tons in August and are expected to remain above 2 million tons through 2026 as production peaks in 4Q, they say. With the probability of a very strong El Nino at 95% for the October-December period, its impact on production is expected to be seen mainly from 2027 onward, they add. RHB maintains an overweight rating on the Southeast Asia plantation sector. (yingxian.wong@wsj.com)

2239 ET - Palm oil rises in early Asian trading, driven by overnight gains in soybean oil on the Chicago Board of Trade. Overall, the market remains constructive, although profit-taking could emerge ahead of the U.S. Department of Agriculture's World Agricultural Supply and Demand Estimates report, which could shift CPO futures expectations through changes in forecasts of global vegetable-oil supply and demand, AmInvestment Bank says. It expects palm-oil prices to face resistance at 4,930 ringgit a ton and support at 4,846 ringgit a ton. The Bursa Malaysia Derivatives contract for November delivery is up 18 ringgit at 4,903 ringgit a ton. (yingxian.wong@wsj.com)

2226 ET - Malaysian palm oil stocks may remain elevated over the next few months as production enters its peak season, while uneven exports could cap price gains, TA Securities analyst Angeline Chin says in a note. However, a sharp correction is unlikely, with crude palm oil prices expected to stay above 4,000 ringgit a ton, she says. Stronger energy prices could support biodiesel demand, while Indonesia's proposed B60 biodiesal mandate in 2027 may absorb more palm oil and tighten exports, she reckons. El Nino also poses an upside risk to prices, although any significant impact on production could emerge only from 2Q 2027, she adds. TA Securities maintains an overweight rating on Malaysian plantation sector, rates SD Guthrie, Kuala Lumpur Kepong, IOI Corp. and United Malacca at buy. (yingxian.wong@wsj.com)

1359 ET - Gold futures lose ground as a pickup in U.S. producer price inflation in August raises expectations of a Fed rate increase next week, while conflict escalation in the Middle East pushes up oil prices. "Gold faces a combination of negative factors, driven mainly by the lack of a near-term horizon for settling the Middle East war, along with high escalation risks that fuel waves of bond-yield increase globally," Samer Hasn of XS.com says in a note. Front month gold settles down 1.2% at $4,364.50 a troy ounce. Silver falls 5.4% to $64.284 a troy ounce.