Materials Lower on Risk Aversion, Steel Earnings -- Materials Roundup

FeaturesDow Jones Newswires

Shares of mining companies and other commodities producers fell as traders fled the sectors of the stock market associated with risk and volatility.

Steelmakers slid after earnings reports, even as executives said they were raising prices. Nucor shares declined after the steelmaker said its average selling price rose by 14% in the latest quarter.

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Shares of AK Steel tumbled after the steelmaker said lower demand from auto makers pushed it further into the red for the fourth quarter.

Global steel production rose about 3.9% from a year earlier in December, but growth originated outside of China, reflecting a shift in the "burden" of production from that nation, said analysts at brokerage Credit Suisse in a research note.

Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

January 30, 2018 16:49 ET (21:49 GMT)