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Materials Down, Gold Futures Up On Renewed COVID-19 Concerns -- Materials Roundup

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02/21/2020 | 04:33pm EDT

Producers of metals and other raw materials fell as hopes faded that the coronavirus epidemic was close to a peak.

Reports of outbreaks in China's prison system and in South Korea have undermined confidence that the outbreak would be a minor, temporary drag on growth.

Gold futures rose by more than 1% for their seventh straight gain, and are now up 8% for the year to date as coronavirus fears and weakness in risky assets spur demand for an investment perceived as a safe haven.

Brazilian iron-ore miner Vale swung to a $1.56 billion fourth-quarter loss after charges related to the 2019 dam disaster, and write-downs on a nickel mine in the Pacific island of New Caledonia and on a Mozambique coal mine.

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

 

Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.29% 1616.4 Delayed Quote.6.23%
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