Titanium mill shapes and nonferrous metal ores bucked the trend
in metals producer prices indices (PPI) last month, posting
gains of 0.5 percent and 0.7 percent, respectively, compared
with May, according to the latest data from the Bureau of Labor
metals registered declines on a not seasonally adjusted basis.
The PPI for steel mill products fell 0.7 percent, the index for
iron and steel scrap dropped 1.8 percent, copper and brass mill
shapes fell 0.5 percent, copper scrap declined 2.1 percent, and
aluminum mill shapes and aluminum scrap were basically flat
with declines of 0.1 percent apiece in June vs. May.
The PPI for all
finished goods on a seasonally adjusted basis increased 0.8
percent month on month in June.
Higher energy prices
were the main culprit. Prices rose across the board except for
crude materials, which were flat, according to Gregory Daco,
senior principal economist at Lexington, Mass.-based
consultancy IHS Global Insight Inc.