Ferrous scrap price index posts 8.4 percent gain

14. January 2011 - Chicago

Metal price indices generally gained in December, although two aluminum categories defied the monthly trend.

The iron and steel scrap price index jumped to 581.8, up 8.4 percent from November and 39.5 percent higher than in December 2009, according to the latest producer price index (PPI) report from the U.S. Bureau of Labor Statistics.

The steel mill product PPI reversed course to post a 0.5-percent gain from November and was up 12.5 percent from December 2009.

The index for aluminum-based scrap last month was off 0.8 percent from November but up 20.9 percent from a year earlier. Likewise, the aluminum mill shapes PPI in December was down 0.2 percent from November but up 12 percent from December 2009.

The producer price index for copper-based scrap in December was up 4 percent from the previous month and 22.8 percent from a year earlier, while the PPI for copper and brass mill shapes was 1.3 percent ahead of November and 11.8 percent higher than December 2009.