Materials Shares Post Modest Gains as U.S.-Iran Talks and Aluminum Deficit Keep Supply Risks in Focus

Materials stocks edged higher as markets monitored U.S.-Iran talks for signs of progress toward normalizing global supply chains. Gold, copper and aluminum prices all moved up on the day. Venezuela began a U.S.-backed military campaign targeting criminal groups in a lawless gold-mining region as it seeks to open the area to American investment. ING Economics analysts said an aluminum supply deficit is not expected to materially ease in the coming months.