FIBER: Industrial Commodity Prices Rise Further in Latest Four Weeks
by:Tom Moeller
|in:Economy in Brief
Summary
- Textile and metals prices continue to strengthen.
- Crude oil prices rise.
- Framing lumber costs decline again.
The Industrial Materials Price Index from the Foundation for International Business and Economic Research (FIBER) increased 1.0% during the four weeks ended November 21, 2025 after rising 0.9% in the prior four-week period. The index increased 1.9% y/y last week following a 1.5% y/y gain in the second week of November.
Textile group prices increased 2.4% during the last four weeks, about the same as they did in both of the two prior four-week periods, and they strengthened 3.4% y/y. The cost of burlap surged 23.2% in the last four weeks while rising a sizable 49.6% over the last year. Cotton prices, however, rose a modest 1.0% in four weeks but declined 5.9% y/y.
Metals sector prices increased 1.7% (10.4% y/y) in the last four weeks after a 2.7% rise in the prior four week-period. Tin prices rose 4.9% (28.3% y/y) in four weeks. Lead prices strengthened 3.4% (3.0% y/y) and the cost of steel scrap rose 1.9% (-0.8% y/y) in four weeks. The cost of copper scrap increased 1.4% (20.3% y/y). Moving lower, the cost of aluminum eased 0.5% (+7.0% y/y) and zinc prices fell 0.6% (+8.0% y/y) in four weeks.
Crude oil & benzene costs rose 2.4% (-7.6% y/y) in the last four weeks, following a 0.9% rise in the previous period. The cost of West Texas Intermediate crude oil rose 2.3% in four weeks to $59.83 per barrel but declined 13.2% y/y. The price was increased from a low of $58.47 in the third week of last month. The price of the petro-chemical benzene rose 8.4% (-12.5% y/y) in four weeks.
Excluding crude oil, the industrial commodity price index increased 0.9% (2.9% y/y) over the last four weeks, after rising 0.8% during the prior four-week period.
Miscellaneous sector prices declined 1.7% in the last four weeks and fell 1.8% y/y, after falling 2.0% in the prior period. Framing lumber prices weakened 10.3% (-10.1% y/y). The cost of tallow, used for frying & baking, declined 2.8% (+12.3% y/y) in four weeks. Offsetting this weakness, natural rubber prices rose 5.9% in four weeks, but declined 4.4% y/y.
The Foundation for International Business and Economic Research develops economic measurement techniques as applied to business cycles and inflation in the U.S. and other market economies. The commodity price data can be found in Haver's DAILY, WEEKLY, USECON and CMDTY databases.
Navigating Unpredictable Terrain by John C. Williams, President & Chief Executive Officer, Federal Reserve Bank of New York is available here.
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
