Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Materials Down As Dollar Strengthens -- Materials Roundup

08/19/2021 | 04:34pm EST

Producers of metals and other raw materials processors fell as the dollar strengthened against other currencies.

The value of dollar-denominated commodities have a relatively strong inverse relationship with the greenback, and the recent surge of a dollar index to the highest level of the year has weighed on prices of gold, copper and others. Gold futures ticked down to around $1780 an ounce, and are now 10% below their 2020 record highs.

Shares of Canadian-based miner Lundin Mining tumbled after brokerage BMO warned the company will likely face near-term challenges.

Australian steelmaker BlueScope Steel reported growth in fiscal year profit and said it would raise its dividend and buy back shares as it benefits from strong steel demand and prices.

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

08-19-21 1633ET

Latest news "Economy & Forex"
07:36aEmerging Asia needs dollar hedging reforms to reduce market risks, BIS says
RE
07:35aWheat, corn, soybeans fall as Omicron threat weighs
RE
07:32aEngine Capital pushes Kohl's to review sale, separate e-commerce business
RE
07:32aPandemic measures cast pall on euro zone investor morale
RE
07:31aWALL STREET STOCK EXCHANGE : European, U.S. stocks stage tentative rebound
RE
07:30aTSX futures up as easing Omicron fears lift oil prices
RE
07:30aBP backs adding WTI Midland oil to Dated Brent benchmark, document says
RE
07:29aInvestment funds need bank-like shock-absorbers, BIS says
RE
07:24aDubai house prices to rise 6.3% in 2021, 5.0% in 2022 and in 2023 (vs 3.0%, 2.5%, 5.0% in august poll)
RE
07:24aDubai property prices to get boost next year from foreign demand
RE
Latest news "Economy & Forex"