Producers of metals and other raw materials were more or less flat as traders hedged their bets ahead of the Federal Reserve’s policy decision.
“Monetary officials meet this week amid investor hopes that they are finished, or close to being finished, with their interest rate tightening campaign,” said John Lynch, chief investment officer at Comerica Wealth Management, in a note to clients.
“Jerome Powell’s notably hawkish tone at Jackson Hole suggested either that more rate hikes might be required, or that a ‘higher for longer’ strategy may prove necessary.”
German chemical producer BASF introduced the first biomass balanced plastic additives that can replace fossil fuel-based plastic additives and reduce a product’s carbon footprint by up to 60%.
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