Producer Prices Advance Further in February

Producer prices continue to register solid monthly increases from the losses suffered during the early days of the COVID-19 pandemic. The composite Producer Price Index (PPI) of all commodities from the Bureau of Labor Statistics (BLS) showed an increase of 2.1% in February versus the prior month, and a 6.0% increase year on year, seasonally adjusted. The year-ago comparison is significant because it’s weighed against pre-pandemic figures.

The PPI data, which covers more than 10,000 goods and services, is helpful in comparing the direction of price changes in the short and medium term. In specific, this analysis is intended to provide subscribers with a view of the competitive position of sheet steel, aluminum, plastic and wood. It also includes some downstream products and a comparison of truck and rail transportation.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.