Cleveland-Cliffs shares led the sector, surging after the vertically integrated steelmaker reported a significant increase in quarterly revenue. The company’s financial success reflects a broader trend of rising metals prices and robust industrial demand that has insulated certain producers from the headwinds of a stronger currency. Despite the rally in individual stocks, the persistent climb of the dollar remains a dominant variable for the materials sector, tempering enthusiasm for commodities that are priced globally in the U.S. currency.