LWLG - Materials Sector Weekly Round-up: Benson Hill at the top; Chemours drops to bottom

The S&P Materials sector closed the trading week in red at -5.27%. The Materials Select Sector SPDR (NYSEARCA:XLB) was also down around 6%. Gold and palladium witnessed sharp declines on Monday, as the dollar rallied on the increasing likelihood of steep interest rate hikes by the U.S. Federal Reserve. Front-month Comex gold (XAUUSD:CUR) closed -2.3% to $1,832.10/oz and silver (XAGUSD:CUR) ended -3.2% to $21.25/oz. Gold spot price settled at $1,838.71/oz. on Friday, down 1.72% for the week, while silver prices contracted 1.01%. Iron ore futures on China's Dalian Commodity Exchange posted a sixth straight decline on Friday, marking its steepest weekly drop in four months, as Chinese steel mills cut production due to weakening profits and demand prospects. As per Reuters, the most-traded Dalian iron ore (SCO:COM) for September delivery ended daytime trading -5.9% at 821.50 yuan/metric ton ($122.64) after falling as low as 815.50 yuan, the lowest since May 26. Copper prices recovered slightly on Friday, after slumping by

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Materials Sector Weekly Round-up: Benson Hill at the top; Chemours drops to bottom