IHS materials index posts sixth gain in seven weeks

The materials price index (MPI) from Global Insight by IHS Markit has recovered about half the losses it suffered between February and June. The latest reading of the MPI, an index measuring the weighted average of weekly spot prices for a basket of globally traded manufacturing inputs comprising crude oil, chemicals, nonferrous metals, ferrous metals, paper pulp, lumber, rubber, fibres, tech components and ocean-going freight rates, rose 2.7% last week, its sixth gain in the past seven weeks.