FEAM - Materials Sector Weekly Round-up: Ramaco tops winners; FEAM drops to bottom

The S&P Materials sector closed the trading week in red at -6.73% as copper and other industrial metals fell in the wake of recession concerns and renewed COVID-19 restrictions in China. The Materials Select Sector SPDR (NYSEARCA:XLB) was also down 6.55%. Three-month copper (HG1:COM) on the London Metal Exchange fell slightly to $9,583.50/metric ton on Friday after dropping 1.2% in the previous session, while LME aluminum, nickel, lead and tin slipped -0.8%, -1.3%, -0.9% and -0.8%, respectively. "This latest setback raises questions about whether the reopening will be as smooth as hoped, thus putting at risk the pickup in economic activity across the entire country," ANZ analysts said, according to Reuters. Aluminum prices plunged to their lowest in nearly six months on Friday, with three-month aluminum on the LME (LMAHDS03:COM) down 2.8% to $2,685/metric ton. Aluminum futures settled at $2,680/metric ton at market close, down ~5% for the week. Gold prices (XAUUSD:CUR) registered a 1.08% growth for

For further details see:

Materials Sector Weekly Round-up: Ramaco tops winners; FEAM drops to bottom