LME COPPER CASH

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Materials Up On Stimulus Bets, Copper Gains -- Materials Roundup

10/22/2020 | 04:51pm

Producers of metals and other raw materials rose in anticipation of a second round of coronavirus relief.

Gold futures, which are sensitive to what's likely to be a major move in the dollar should a stimulus bill pass, held above the psychologically significant $1900-an-ounce level.

Copper futures hit their highest levels since mid-2018 in anticipation of increased consumption in China, the world's largest market for the industrial metal. Most actively traded copper futures rose to nearly $3.20 a pound on the Comex division of the New York Mercantile Exchange Wednesday, hitting their highest level since June 2018 and bringing their rebound in the past six months to around 40%.

The California Supreme Court declined to hear an appeal by German chemicals and drug maker Bayer challenging a jury verdict that the company's Roundup herbicide caused a groundskeeper's cancer, likely forcing Bayer to pay the $20.4 million judgment.

Miner Anglo American reported higher production for the third quarter and cut targets for thermal-coal production as strikes in Colombia disrupted operations.

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

(END) Dow Jones Newswires

10-22-20 1650ET

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