In this publication, we provide some fixed-income investment ideas in the pulp and paper, chemicals, steel and cement industries in the LatAm corporate universe. Spreads in the basic and construction materials sectors tightened in 2H24 as a result of the resiliency of some commodity prices, largely due to China’s efforts to stimulate its economy and to higher tariffs on imported materials like steel and chemicals. However, we still see only a slow recovery financial in those sectors. On the other hand, pulp and paper bonds pay the lowest spreads among basic material instruments. The widest spreads are paid by bonds from the chemical sector—such as those of Braskem (Ba2/BB+/BB+) and Orbia (Baa3/BBB-/BBB)—as well as by those of Brazilian steel producer CSN (Ba2/BB/BB).