RING - Materials sector weekly round-up: Lightwave Logic becomes top gainer; Nexa Resources at bottom

Basic materials were under pressure this week amid production declines in China and the U.S. government moving towards what could be one of the biggest changes to U.S. mining law in centuries. Materials -3.58% was the worst performing sectors among the 11 S&P 500 sectors this week. Materials Select Sector SPDR ETF (NYSEARCA:XLB) also closed the week in red (-4.04%), with a steep fall at market open on September 17. iShares U.S. Basic Materials ETF (NYSEARCA:IYM) also had a similar trajectory, dipping 3.90%. On September 17, iron ore collapsed below $100/ton, triggered by China's moves to clean up its polluting industrial sector. Iron ore futures (SCO:COM) tumbled more than 20% this week and recently were trading at $99.55/ton in New York, according to Bloomberg. Iron ore futures settled at $113.50 at the close of this week. Iron ore futures in China sunk to nine-month lows two days earlier, extending the recent selloff as

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Materials sector weekly round-up: Lightwave Logic becomes top gainer; Nexa Resources at bottom