Lower metals prices weigh on materials price index – IHS

The materials price index (MPI) from Global Insight by IHS Markit has slipped 0.1% last week, the first decline in four weeks, as metal markets finally began to slide, the firm advised on Friday. The strength of the last few weeks has been mainly attributable to a surge in metal prices and the aftermath of Hurricane Harvey and its impact on chemicals and energy markets. Indeed, the latter two are still seeing price growth as the longer-run impacts of the hurricane continue to oscillate around markets, the research firm advised.