Producers of metals and other raw materials fell amid doubts that congressional leaders would reach agreement on a budget reconciliation bill this week, despite a major push from President Biden.
The White House is pushing for Democrats to come together around the bill, expected to cost around $1.75 trillion, by the end of the week, but Sen. Joe Manchin has publicly criticized some of the proposals in the latest version of the bill.
Steelmakers are preparing for sustained increases in demand, according to recent conference calls from Steel Dynamics, Nucor and other major companies in the arena, The Wall Street Journal reported.
Copper futures fell after Chinese property developer Modern Land missed a payment on a dollar bond.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
10-27-21 1632ET
