Analytics firm IHS Markit reports that its Materials Price Index (MPI) rose for a sixth consecutive week, increasing 1.4% to hit a fresh 18-month high.
IHS Global Insight Pricing & Purchasing senior economist Ben Orhan pointed out that ferrous metals once again drove the index higher, gaining 3.3%. However, rubber provided the largest boost by jumping 10.6%, capping off two months of continuous gains.
Source: www.engineeringnews.co.za
IHS Materials Price Index jumps to 18-month high; emergent weakness to undermine momentum
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