Materials Down on Weak Philadelphia Manufacturing Reading -- Materials Roundup

Dow Jones

Jun 21

Producers of metals and other raw materials fell after a weak reading of industrial activity in the Philadelphia area.

The Federal Reserve Bank of Philadelphia said its index for business activity held at minus 4, an unexpected extension of May weakness.

ArcelorMital shares fell after the steelmaker sold its Bosnian operations at a $200 million loss.

China's exports of rare-earth magnets plummeted 74% in May after it imposed controls on their overseas sale, emphasizing Beijing's dominance of a critical input into electric vehicles and jet fighters that has taken center stage in tensions with the U.S.

Gold futures fell 1.8% for the week, but remain close to record highs, as the Middle East conflict and tariff uncertainty stokes safe-haven demand.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

June 20, 2025 17:21 ET (21:21 GMT)

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