Producers of metals and other raw materials edged higher as gold and copper prices rose for the third straight month. Silver jumped more than 14% in May, the largest gain since March 2023.

Rio Tinto on Friday announced new 20-year power-supply deals that will keep the Tiwai Point aluminum smelter operational into the long term. Rio Tinto, which plans to take full control of the New Zealand Aluminium Smelters venture that runs the smelter, has in previous years been uncommitted about its future given swings in power costs and metals prices.

Write to Patrick Sullivan at

(END) Dow Jones Newswires

05-31-24 1716ET