Producers of metals and other raw materials rose during a volatile session as traders wagered that the Trump administration will pull back from the brink on tariff threats.
Nippon Steel Chief Operating Officer Tadashi Imai said the Japanese company will discuss its planned acquisition of U.S. Steel with U.S. government officials, after former President Joe Biden blocked the takeover bid in January, citing the threat it posed to national security.
As many as 100,000 aluminum workers could lose their jobs due to President Trump's proposed tariffs measures, with 20,000 aluminum workers directly affected and 80,000 ancillary jobs at risk, warned Alcoa Chief Executive Bill Oplinger.
Gold futures slipped after hitting a record high of $2,974-an-ounce in the prior session.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
February 25, 2025 17:04 ET (22:04 GMT)
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