Materials Down After Fed Hike -- Materials Roundup
Shares of miners and other commodities producers fell in the wake of the Federal Reserve's interest-rate hike. Gold futures, which had fallen for five straight sessions ahead of the rate decision because of the anticipated implications for the dollar, recouped some of those losses. The boom in technology industry has led to an increase in prices of Silicon metal in the U.S., according to one brokerage. "U.S. Silicon metal prices have benefited from inventory drawdowns and a decline in imports as Brazil and Kazakhstan reportedly withdrew import offers due to pending antidumping investigations," said analysts at brokerage Jefferies, in a research note. "Supply constraints have also become evident as higher cost producers have curtailed or idled capacity."
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
June 14, 2017 16:15 ET (20:15 GMT)