This Morning - Recycled Materials Association

Slower industrial production in China reported late last week took a toll on investor confidence as markets gear up for this week’s Fed announcement. In New York, NYMEX crude oil futures steadied around $51.90 per barrel while COMEX copper futures dipped below $2.74 per pound. In London, base metal prices were mostly softer this morning with LME 3-mo. copper trading around $6,100 per ton while 3-mo. aluminum dipped below $1,925/mt (= 87 cents/lb.). In foreign exchange trading the euro edged up to around $1.134 while the dollar was buying 113.3 Japanese yen.