Producers of metals and other raw materials rose as traders rotated back into the cyclical sectors that were beaten down during the January rout to finish the month.
The SPDR Select Sector Materials exchange-traded fund, which tracks the materials industry group of the Standard & Poor's 500, rose 1%, to trim losses for the year to date to 6%.
The price of aluminum has increased by 24% over the past six months to more than $3,100 a metric ton, approaching a decade high.
The threat of war between Russia and Ukraine is rattling international grain markets, driving wheat prices higher on both sides of the Atlantic and leaving traders girding for more volatility ahead. The two nations combined account for 29% of global wheat exports, according to data from the U.S. Agriculture Department, while the Black Sea is one of the most important global shipping routes for the grain.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-31-22 1626ET
