Market Watch For August 2008: Material Demand

Sept. 12, 2008
Steel and aluminum prices still running, but corn and natural gas finally pull back.

Far fewer commodities registered higher prices in August, according to the latest ISM Manufacturing Report on Business (ROB) released on Sept. 2. Coming off a rough July when not a single material got any cheaper, August saw natural gas retreating from a nine-month run up while corn prices finally dropped after moving up every month since the April report.

Commodities Up In Price

Acrylics
Aluminum (7)
Aluminum Extrusions (6)
Caustic Soda (6)
Chemicals (4)
Corrugated Containers (4)
Diesel Fuel* (6)
Freight (4)
Fuel Surcharges (6)
Petroleum-based Products (4)
Petrochemicals
Plastics (3)
Plastic Resins
Polyethylene
Polyethylene -- High Density
Polypropylene Resins
PVC
Steel (8)
Sulfuric Acid (2)

Commodities Cooling Off?

"When the price of oil has fallen by more than 20%, and other commodities from steel and aluminum to corn and wheat have all fallen in price significantly, it represents a cushion for the economy. It is one of the few supports that we have right now."

-- Sung Won Sohn, an economist at California State University in the Washington Post on Aug. 21.

Commodities Down In Price

Copper
Corn
Diesel Fuel*
Fuel Oil
Natural Gas
Soybean Oil

Commodities In Short Supply

Caustic Soda (6)

Note: The number of consecutive months the commodity is listed is indicated after each item.

*Reported as both up and down in price

Source: August 2008 Manufacturing ISM Report on Business

See Also

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!