CHICAGO 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 Statistics.
Meanwhile, other 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.