Materials Up As Industrial Metals Hold Near Highs -- Materials Roundup

Features Dow Jones Newswires

Shares of commodities producers ticked up as industrial metals prices held near multiyear highs.

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Copper futures ticked down after closing Tuesday at the highest level since November 2014, the result of the dollar's unexpected weakening, rising demand in China and the interruption of mine production in various key locations.

Anglo-Australian mining giant BHP Billiton said it plans to replace two directors, one of whom had only joined the board six months earlier, a few days after it said it would sell its American shale oil and gas unit. It was unclear, however, whether the board changes were another concession to demands from activist investor Elliott Management, which has amassed a stake representing roughly 5% of the company and had called for an exit from the U.S. unconventional energy business.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

August 23, 2017 16:38 ET (20:38 GMT)