The materials sector experienced a significant uptick, with the XLB ETF climbing 1.71%, largely driven by a rally in base metal prices, particularly copper. Copper prices surged on the back of tightening physical supply in China, falling inventories, and speculation about potential U.S. tariffs on refined copper. This surge in copper prices has directly boosted the stock prices of major mining companies. The broader rally in base metals, including aluminum, also contributed to the positive performance of the materials sector.