Materials Advance as Dollar Gives Back Some Gains -- Materials Roundup

Producers of metals and other raw materials rose as the September rout in risky sectors eased somewhat, and the dollar gave back some recent gains.

The stronger dollar has exerted pressure on commodities priced in the greenback.

In a move that could presage a merger, integrated iron-and-steel producer Cleveland-Cliffs signed a so-called standstill agreement with U.S. Steel, a sign that the latter steelmaker is growing more receptive to a buyout bid that started as a hostile campaign from Cleveland.

This type of agreement gives U.S. Steel more input on any buyout effort while providing more access for Cliffs to U.S. Steel's operations and financials.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

09-28-23 1726ET