Producers of metals and other raw materials rose after strong earnings from one mining giant.
Freeport McMoRan shares rallied after the miner forecast an increase in gold and copper production during the balance of the year following the opening of a precious-metals refinery in Java.
Gold futures rose, closing above $3,300 an ounce. The precious metal hit an all-time high above $3,500 an ounce on Monday.
Soybean futures rose amid hopes the Trump administration would ease U.S. tariffs on Chinese goods, even as Beijing denied that negotiations were ongoing.
In one bad sign for the price of soybeans and other agricultural products, China cut back on its U.S. soybean purchases and reduced the amount of pork it plans to import in 2025, according to weekly data from the Agriculture Department.
Korean steelmaker Posco Holdings posted lower first-quarter net profit, dented in part by tariffs the Trump administration imposed on all steel and aluminum imports into the U.S.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
April 24, 2025 16:39 ET (20:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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