and steel scrap prices remained flat in October vs. the
previous month, with steel mill product pricing following suit,
according to the latest producer price index (PPI) report from
the U.S. Bureau of Labor Statistics.
However, the PPI for
iron and steel scrap was 8.4 percent higher than in October
The aluminum mill
shapes index slipped 0.7 percent from September and fell 5
percent from a year earlier. The aluminum scrap PPI rose 1
percent in October but dropped 7.4 percent year on year.
The copper and brass
mill shapes index was flat month on month but fell 7.5 percent
from October 2012. The copper scrap index inched up 0.6 percent
in October vs. the previous month but fell 3.7 percent from
The nonferrous metal
ores index fell 2.1 percent in October compared with September
and declined 16.4 percent year on year.
The index for all
finished goods fell 0.2 percent in October, seasonally
adjusted, and that for crude goods declined 0.9 percent
compared with September.
Prices for finished
energy goods fell 1.5 percent month on month, paced by a
3.8-percent drop in gasoline. Diesel and natural gas prices
also declined, as did home heating oil.
"There is no inflation
pressure now and none in the pipeline, " according to Michael
Montgomery, U.S. economist at IHS Global Insight Inc.,
"With Europe still in
a funk and China struggling with recovery from a slowdown,
there is no spark to get inflation rolling anytime soon and the
next upcycle in commodities, when they fare better, will
probably be mild," he said.