Producers of metals and other raw materials tumbled in quiet trading.
Copper prices slipped amid low volumes as Chinese traders were absent for a holiday and investor concerns about Beijing's efforts to curb price rise. On Wednesday, China's economic indicators for May are likely to show another month of slowing growth, as the base effect of a pandemic year eases and production is suspended in the manufacturing and export hub of Guangdong province to control recent Covid-19 outbreaks.
Live cattle futures traded higher for the fourth trading session in a row as demand for beef from food service and other avenues has provided support for futures.
Mining companies are throwing their weight behind vaccination efforts as Covid-19 continues to ravage much of the developing world. Miners are offering vaccines and bolstering healthcare services to employees and surrounding communities. The effort is focused on poorer nations, where healthcare systems are weak, vaccines are scarce, and inoculation campaigns lag far behind those in the West.
Anglo American has said it is spending as much as $30 million to support the global rollout of Covid-19 vaccines across its footprint. Other miners, from Glencore to Rio Tinto, have been offering support to local governments during the pandemic.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
06-14-21 1715ET
