This morning in metals news: import prices rose by 1.0% in June; Saudi Arabia and the United Arab Emirates have reportedly reached a deal to resolve their recent oil output spat; and, lastly, Norsk Hydro recently announced the restart of its aluminum extrusion plant in Sjunnen, Sweden.
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US import prices rise by 1.0%
U.S. import prices rose by 1.0% in June, the Bureau of Labor Statistics reported.
Import prices had jumped by 1.4% in May.
“Rising prices for fuel and nonfuel imports contributed to both the June and May advances,” the BLS reported.
Meanwhile, U.S. export prices increased by 1.2% in June after rising by 2.2% in May.