Materials Up As Gains In Metals Prices Seen Continuing -- Materials Roundup

Producers of metals and other raw materials rose as traders bet a recent surge in metals prices would continue despite a recent tapering of gains.

The price of copper has retreated in recent sessions because of Chinese efforts to curb speculation in industrial-metals markets. But the march higher in copper, lumber, iron ore, grains and other commodities prices looks set to continue in the absence of a shift in central-bank policy, according to many strategists.

Federal Reserve Bank of Minneapolis leader Neel Kashkari pushed back against those who believe the central bank and broader government stimulus are setting the stage for a major inflation problem. Even "if inflation readings are here to stay, the Federal Reserve has the tools ... to keep inflation in check," said Mr. Kashkari, in an interview on CNN.

Cattle futures fell after Brazilian meatpacking giant JBS said it was hit by a cyberattack, with computer systems in Australia and in the U.S. affected.

West Virginia Gov. Jim Justice said he is personally liable for debt arranged by now-collapsed Greensill Capital, highlighting the challenges of maintaining coal-mining holdings as the commodity falls out of favor.

Centerra Gold placed its Kumtor gold-mining operations in Kyrgyzstan under bankruptcy protection in the U.S. after authorities in the central Asian country took control of the project over alleged safety concerns.

 Write to Rob Curran at [e-mail] 

(END) Dow Jones Newswires

06-01-21 1624ET