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Materials Shares Sink Amid Concerns About China -- Materials Roundup

09/20/2021 | 05:14pm EDT

Producers of metals and other raw materials tumbled as sectors exposed to China's resource-hungry economy experienced big declines.

Anglo American, Glencore and Antofagasta were among mining's biggest losers. December copper lost 2.3%, while December palladium traded down 3.2% to its lowest finish since June 2020. Gold futures headed higher amid risk-off trade.

In corporate news, Nucor said it will build a new mill with an annual capacity of three million tons of sheet steel. The company is eyeing locations in Ohio, Pennsylvania or West Virginia.

"We are adding steelmaking to capture an additional share of the domestic market," CEO Leon Topalian said. The new mill will accelerate the company's penetration into the automotive industry, he said.

 Write to Amy Pessetto at amy.pessetto@dowjones.com 

(END) Dow Jones Newswires

09-20-21 1713ET

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