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Materials Up As Traders Bet On Growth, Inflation Views -- Materials Roundup

10/20/2021 | 02:30pm EST

Producers of metals and other raw materials rose as traders bet the sector would benefit from economic growth and inflation trends.

Copper futures closed within 1% of record highs in New York, as shifts to renewable energy and increased infrastructure spending are seen as stirring demand for the industrial metal.

Shares of Rio Tinto fell after the Anglo Australian mining giant accelerated plans to cut carbon emissions, and said it intends to spend more on projects to mine commodities needed for a global energy transition.

Gold futures rose as the dollar weakened against other currencies because of inflation concerns.

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

(END) Dow Jones Newswires

10-20-21 1630ET

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