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

0734 GMT - London's miners open lower Monday morning as oil prices rise and AI stocks tumble. Friday's U.S. consumer report also solidified expectations the Fed will increase interest rates, which could slow investment and cut demand for mined metals and minerals. Higher oil prices will eat into margins given miners are some of the world's largest consumers of diesel. Copper miner Antofagasta falls 2.4%. Glencore drops 2.01% while BHP's London-listed shares trade 1.7% lower. Rio Tinto's London shares are down 1.6%.(adam.whittaker@wsj.com)

0554 GMT - Antofagasta shares are attractively priced after last week's selloff, Berenberg analysts write as they upgrade their rating on the stock to buy from hold, and keep the target price unchanged at 44 pounds. Copper prices and equities slumped on reports that the U.S. still hasn't made a decision on refined copper tariffs. This removed some of the premium in copper prices. The London-listed Chilean copper miner has quality assets in a low-risk jurisdiction, they say. Forecast volume growth in 2027 and 2028 will help drive a rerating of the shares, the analysts write. Shares closed Friday at 37.90 pounds. (adam.whittaker@wsj.com)

0439 GMT - Morgans expects Ramelius Resources will estimate FY27 gold output between 200,000-220,000 oz, "likely trending to the upper-end." Ramelius held off from providing year-ahead guidance alongside its FY26 results last month, saying it would share its outlook in September alongside an updated four-year plan. The company produced 192,182 oz in FY26. Beyond FY27, Morgans thinks there's potential for higher output through FY30 than previously expected. "Increased mining rates at Break of Day following the Stage 2 cutback, along with mine life extensions at Penny, should drive higher head grades through FY27 and FY28," says the broker. Morgans keeps a buy rating on Ramelius, although it cuts its target to A$4.74/share from A$5.80/share following a change of analyst. The stock is up 1.1% at A$3.78. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0343 GMT - NRW's announcement of roughly 313 million Australian dollars in contract awards adds to earnings visibility and confidence the contractor can meet FY27 guidance, says bull Euroz Hartleys. "The existing order book provides a high degree of visibility, while upside remains from stronger activity across electrical and HVAC [heating, ventilation and air conditioning] services, resources civil work, mining ramp-ups and further margin improvement," it says. The broker keeps a buy rating and A$9.06/share price target on the stock. Shares are up 0.1% at A$7.70. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

0321 GMT - Gold investors could be looking beyond the next Federal Reserve move, says UBS Global Economics and Strategy Research's Joni Teves in a note. The precious metals strategist expects the market to have largely absorbed rate tightening expectations and place greater weight on other reasons to buy gold, such as the asset's diversification appeal and intact official-sector buying. The peak gold demand season is also approaching in India, while investment activity in China appears supportive, she adds. Gold prices are likely to remain volatile but increasingly likely to rise toward the year-end, she says. She flags that a September Fed rate increase could still result in a "knee-jerk correction" without derailing the broader recovery. Spot gold declines 0.3% to $4,332.84 a troy ounce. (megan.cheah@wsj.com)

0012 GMT - Gold edges lower in Asian trade. U.S. core inflation, a measure that strips out food and energy which gauges underlying price trends, rose 0.3% on month in August, beating expectations, data from the Labor Department showed on Friday. This likely strengthens the case for the Federal Reserve to raise its benchmark rate at its meeting this week, says Commonwealth Bank of Australia's Belinda Allen in a note. A higher interest-rate environment typically weighs on nonyielding assets such as gold. Spot gold slips 0.05% to $4,345.45 a troy ounce.