LWLG - Materials Weekly Round-up: TMC soars as nickel prices surge; aluminum stocks among losers

The S&P Materials Select Sector Index closed -0.37% for the week, while the Materials Select Sector SPDR Fund (NYSEARCA:XLB) moved -1.24%. Prices for aluminum and other base metals are pulling back, despite continued worries about Russian supply. "There is across commodities markets some confusion about where prices should be. If this (war in Ukraine) is a protracted conflict, a lot more supply will probably get hurt," WisdomTree's Nitesh Shah tells Reuters. Aluminum (LMAHDS03:COM) on the London Metal Exchange, which has gained nearly 25% YTD, settled at around $3,474 a ton from $4,073.50 on Monday. LME copper (HG1:COM) was down around -4% this week at $10,233/ton, zinc (LMZSDS03:COM) -5% to $3,835, lead (LL1:COM) -4% to $2,377 and tin (LMSNDS03:COM) -8% to $43,600, according to Reuters. The LME suspended trading in nickel after prices spiked as much as 250% in two sessions, and remained closed for the rest of the week. The recent rally in spot gold (XAUUSD:CUR) eased off as well

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Materials Weekly Round-up: TMC soars as nickel prices surge; aluminum stocks among losers