"From sky to ground": Oil prices soar, US materials stocks forced to "change fate"

金十2026/03/19 11:44

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Golden Ten Data reported on March 19 that one of the best-performing sectors in the US stock market this year, materials stocks, has now become the most impacted sector since the outbreak of the Iran war, due to soaring oil prices leading to a significant increase in industrial production costs. Sealant manufacturer PPG Industries, packaging company Smurfit WestRock, paper producer International Paper, and concrete producer Vulcan Materials are among the companies whose stock prices have fallen by at least 16% since the close on February 27. The performance of these companies has dragged down the S&P 500 Materials Index, composed of 26 companies, by 10% during the same period. Except for the stocks of these four companies, all other constituent stocks have been in decline since the conflict began. Before the outbreak of the war, only one company’s stock had not fallen throughout the year. At the beginning of 2026, record-high metal prices, strong fourth-quarter earnings, and expected growth in demand for chemical products drove the development of the industry. However, the recent market downturn is due to disruptions in transportation through the Strait of Hormuz, which has caused the price of oil (an important raw material for many materials companies) to rise by as much as 50%, reaching nearly $110 per barrel.

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