Materials Up on Fed, Inflation Optimism -- Materials Roundup

Producers of metals and other raw materials rose amid optimism about Federal Reserve policy.

"Last week's economic data gave investors another reason to believe inflationary pressures may be subsiding," said Saira Malik, chief investment officer at money manager Nuveen, in a note to clients.

Australian miner South32 cut its production projection for its Cannington and Brazil aluminium operations, adding that overall output rose sharply in its fiscal first half, a trend it expects to continue.

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(END) Dow Jones Newswires

01-23-23 1726ET