Materials Sector Weekly Round-up: Sibanye Stillwater tops list; Enviva drops to bottom

The S&P materials sector index fell -7.64% this week and the Materials Select Sector SPDR ETF (XLB) -7.59%. Sentiment was dampened by Federal Reserve chair Jerome Powell's hawkish testimony to the Senate and the House, and hot jobs market data.

The banking sector was also hit by two events - the liquidation of crypto-friendly bank Silvergate (SI) and the collapse of SVB Financial (SIVB) unit Silicon Valley Bank. This helped precious metals rally on Friday, although their weekly performance was not as positive.

April Comex gold (XAUUSD:CUR) +0.7% to $1,867.76/oz, while May silver (XAGUSD:CUR) -3.43% to $20.53/oz.

Gold futures have been falling during the week after Federal Reserve Chair Jerome Powell said "inflationary pressures are running higher than expected " and left the door open to more interest rate hikes than previously planned.

Copper prices (HG1:COM) also dipped -1.22% for the week over fears of further interest rate hikes and rising supplies. Three-month copper on the London Metal Exchange, down -2.1% this week.

Take a look at this week's top gainers among basic material stocks ($2B market cap or more):

• Sibanye Stillwater (SBSW) +0.73%
• AngloGold Ashanti (AU) +0.69%
• Gold Fields (GFI) +0.21%
• Grupo Simec (SIM) +0.028%
• Sylvamo (SLVM) -1.95%

Here are the top losers among basic material stocks:

• Enviva (EVA) -18.13%
• Alcoa (AA) -17.51%
• Tronox (TROX) -16.65%
• Avantor (AVTR) -15.16%
• Lithium Americas (LAC) -14.32%

Other materials ETFs to watch: iShares Global Timber & Forestry ETF (WOOD), Materials Select Sector SPDR ETF, Vanguard Materials ETF (VAW), iShares Global Materials ETF (MXI), SPDR S&P Metals and Mining ETF (XME), VanEck Vectors Gold Miners ETF (GDX), iShares MSCI Global Gold Miners ETF (RING), Global X Copper Miners ETF (COPX).