Industry & Business

Price of Basic Metals Rises 12.1 Percent

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Price of Basic Metals Rises 12.1 Percent

Price of Basic Metals Rises 12.1 Percent
February 22
13:15 2017

The price of basic metals rose 12.1 % in January while other factory gate prices remained relatively stable, according to figures released by the Central Statistics Office on Wednesday. Total monthly factory gate prices increased by 0.2% in January compared to the previous month, and fell by 0.1 % compared to Janaury 2016.

The price index for export sales increased by 0.1% in January, while the index for home sales increased by 1.1%. In the year there was an increase of 1.4% in the price index for export sales (this can be influenced by currency fluctuations) and an increase of 2.9% in respect of the price index for home sales.

The most significant opice change was a 12.1 % increases in Basic metals, while other food products including bread and confectionery  rose 5.1 % and Chemicals and chemical product rose 0.7%. At the same time, there were decreases in Meat and meat products (-1.0%), Computer, electronic and optical products (-1.0%) and Basic pharmaceutical products and pharmaceutical preparations (-0.9%).

Contributing to the annual change were increases in Other manufacturing including medical and dental instruments and supplies (+4.9%), Other food products including bread and confectionery (+4.4%) and Computer, electronic and optical products (+4.1%), while there were decreases in Printing and reproduction of recorded media (-8.2%), Grain milling, starches and animal feeds (-4.4%) and Basic pharmaceutical products and pharmaceutical preparations (-0.8%).

The yearly price index for Mining and quarrying increased by 16.8% while the monthly index decreased by 1.3%. Building and Construction  material prices increased by 2.3% in the year since January 2016. The most notable yearly changes were increases in Sand and gravel (+22.7%), Fabricated metal (+7.4%) and Stone (+7.2%), while there were decreases in Hardwood (-7.3%), Glass (-4.1%) and Other concrete products excluding precast concrete (-1.5%). Building and Construction All materials prices increased by 0.3% in the month.

Year on year, the price of Capital goods increased by 1.2%, while the monthly price index increased by 0.2%. The price of Energy products increased by 24.5% in the year since January 2016, while Petroleum fuels increased by 21.1%. In January 2017, the monthly price index for Energy products increased by 3.4%, while Petroleum fuels increased by 1.3%.

See the full CSO report here.

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