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Materials Shares Tumble as Metals Prices Fall -- Materials Roundup

09/17/2021 | 05:00pm EDT

Producers of metals and other raw materials tumbled as metals prices sank.

Gold futures ended lower, with prices tallying a third consecutive session loss and a second weekly decline in a row, as the U.S. dollar strengthened ahead of the Federal Reserve's policy meeting next week.

A better-than-expected report on U.S. August retail sales on Thursday also was partially credited with boosting the dollar and weakening bullion. Silver and palladium futures ended at the lowest levels since July 2020. Copper also edged lower for a weekly loss of 4.6%.

In corporate news, United States Steel said it plans to build a new steel mill in the U.S. starting next year, as the company chases rising demand from a rebounding manufacturing sector.

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

(END) Dow Jones Newswires

09-17-21 1659ET

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