Subscribe to Updates

    Get the latest news from Legacy Medi4!

    Our Picks

    What Is Oil Pulling?

    July 19, 2023

    Top Sweetener Officially Declared a Carcinogen

    July 14, 2023

    Disturbing New Finding Links Cognitive Decline to Dental Hygiene : ScienceAlert

    July 8, 2023

    When the Woods Get Noisy, the Animals Get Nervous

    July 8, 2023
    Facebook Twitter Instagram
    • Privacy Policy
    • Contact Us
    • About Us
    • Disclaimer
    Facebook Twitter Instagram YouTube
    Legacy Medi4Legacy Medi4
    • World News
    • Business
    • Entertainment
    • Health
    • Science
    • Sports
    • Technology
    Legacy Medi4Legacy Medi4
    Home»Business»Iron stocks tops list; Lithium stocks drop to bottom
    Business

    Iron stocks tops list; Lithium stocks drop to bottom

    Todd LivingstonBy Todd LivingstonNovember 19, 2022No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Metal mining

    Adro_Hatxerre/iStock via Getty Images

    The S&P index was closed -1.61% this week, it’s the S&P 500 down -0.69% and Materials Select Sector SPDR ETF (XLB) -1.55%.

    Iron ore futures (SCO:COM) + 6.42% wrapped their third straight every week to rise on Friday, as above the iron China’s latest moves by manufacturers to boost its economy, including an easing of strict COVID-19 restrictions, have fueled optimism.

    Front month Comex gold (XAUUSD: CUR) for November delivery was lower -1.18% ending the week at $1,750.20/oz. Prices fell with “the dollar rising sharply after a surprise drop in commodities,” the US said, adding that commodity prices rose a slightly more than expected 0.2% in October.

    Three-month copper prices (HG1:COM) fell sharply this week, falling -8.38%. Futures on the London Metal Exchange fell as a spike in cases of COVID-19 among buyers of the precious metal in China and hawkish comments from Fed officials heightened concerns.

    This week’s top gainers among commodities ($2B market cap or more) benefited from the metal’s strong five-day performance:

    • Sylvamo (SLVM) +6.09%
    • Simec Group (SIM) +5.37%
    • Steel Strength (STLD) +4.54%
    • Alpha Metallurgical Resources (AMR) +4.68%
    • Ashland (ASH) + 4.09%

    The week’s biggest losers among key stocks were all lithium stocks that were under pressure following a sell-off in Asian lithium output peers on rumors of production cuts at China’s biggest cathode maker.

    • Chemical and Mining Society of Chile (SQM) -17.98%
    • Sigma Lithium (SGML) -14.99%
    • Livevent (LTHM) -13.60%
    • Albemarle (ALB) -12.39%
    • Lithium Americas (LAC) -10.64%

    Other ETFs to watch: iShares Global Timber & Forestry ETF (WOOD), Materials Select Sector SPDR ETF, Vanguard Materials ETF (VAW), iShares Global Materials ETF (MXI), SPDR S&P Metals and Mining ETF (XME), VanEck Vectors Gold Miners ETF (GDX), iShares MSCI Global Gold Miners ETF (RING), Global X Copper Miners ETF (COPX).

    Source link

    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Todd Livingston

    Related Posts

    Corsair Gaming bumps 3% as holiday quarter tops forecasts (NASDAQ:CRSR)

    February 9, 2023

    META has rallied more than 40% so far in 2023. Is it still a buy here?

    February 9, 2023

    Analysts stay positive on Google AI after historic value wipeout (NASDAQ:GOOGL)

    February 9, 2023

    Leave A Reply Cancel Reply

    Our Picks

    What Is Oil Pulling?

    July 19, 2023

    Top Sweetener Officially Declared a Carcinogen

    July 14, 2023

    Disturbing New Finding Links Cognitive Decline to Dental Hygiene : ScienceAlert

    July 8, 2023

    When the Woods Get Noisy, the Animals Get Nervous

    July 8, 2023

    Subscribe to Updates

    Get the latest news from Legacy Medi4!

    Our Picks

    What Is Oil Pulling?

    July 19, 2023

    Top Sweetener Officially Declared a Carcinogen

    July 14, 2023

    Disturbing New Finding Links Cognitive Decline to Dental Hygiene : ScienceAlert

    July 8, 2023

    Type above and press Enter to search. Press Esc to cancel.