Materials Shares Fall as Palladium Leads Metals Lower -- Materials Roundup

09/14/2021 | 04:52pm

Producers of metals and other raw materials were lower.

Palladium saw the biggest move among the Comex metals, with prices down by 5%, logging a sixth-straight decline and their lowest finish since July 2020. Both platinum and palladium are getting "hit hard yet again," said Edward Meir, analyst at ED&F Man Capital Markets, in a note.

"The ongoing difficulties by automobile producers are surely weighing on both these complexes."

Gold futures ended higher, finding support as the U.S. dollar weakened after a report showing U.S. inflation rose in August at the slowest pace in seven months.

In corporate news, BHP Group set targets to achieve net-zero emissions for its suppliers and shippers, but said that it can't do the same for heavily polluting downstream activities such as steelmaking. The world's largest miner by market value published an updated climate-transition plan, which includes enhanced targets for value chain (Scope 3) emissions. In order to progress toward its ambition of achieving net-zero Scope 3 emissions by 2050, the company is now targeting net zero for its direct suppliers and for the maritime transport of its products by 2050.

 Write to Amy Pessetto at amy.pessetto@dowjones.com 

(END) Dow Jones Newswires

09-14-21 1651ET

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