CHICAGO Copper scrap
pricing rose 1.8 percent in January following a 5.3-percent
gain in December, according to the Bureau of Labor
Statistics latest producer price index (PPI) report.
The copper scrap index was put
at 620.3 last month, up from Decembers figure of 609.2,
not seasonally adjusted, while the PPI for copper and brass
mill shapes inched up 0.6 percent to 434.7 after climbing 1.5
percent in December.
The PPI for iron and steel scrap
moved up 0.3 percent in January atop a 0.9-percent gain in
December, but was down 19.9 percent from January last year.
The steel mill products PPI of
198.4 was virtually flat with December but down 8.3 percent
from a year earlier.
The aluminum scrap price index
of 243.3 climbed 0.7 percent from December and 2.9 percent from
January last year, while the aluminum mill shapes PPI of 178.6
rose 0.3 percent from December but was down 0.1 percent from a
The titanium mill shapes price
index was the biggest loser, falling 6.2 percent to 175.4 in
January after staying flat in December.
The PPI on all finished goods
rose 0.2 percent in January, seasonally adjusted, after falling
for three consecutive months. The main drivers of that increase
were food and pharmaceuticals, while energy prices fell.
"The underlying picture for
inflation remains quiet, although energy prices will not be so
benign (going forward) as recent increases in gasoline prices
come through," Nigel Gault, chief economist at Lexington,
Mass.-based IHS Global Insight, said.