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Import/Export Price Indexes
Bureau of Labor Statistics > Import/Export Price Indexes > Home

Recent Price Trends in the Metal Industry

An overview of Primary Metal Manufacturing price indexes

2025

Metal cogs

U.S. Import and Export Price Indexes contain data on changes in the prices of nonmilitary goods and services traded between the United States and the world. The U.S. Bureau of Labor Statistics produces these indexes, which are Principal Federal Economic Indicators.

Q: How have import metal prices trended over the 2022–2024 period? (See chart 1)

  • Primary metal manufacturing import prices increased 5.4 percent from December 2021 to December 2024. The index increased 0.8 percent in 2022 before declining 6.6 percent in 2023. The import price index for primary metal manufacturing increased 12.0 percent in 2024.
  • The 12.0-percent rise in import prices for primary metal manufacturing in 2024 was the largest calendar-year increase since the index advanced 24.0 percent in 2021.
  • Increasing prices for alumina and aluminum production led to the recovery of import prices for primary metal manufacturing in 2024.

Q: How did import metal prices compare with other economic data? (See chart 1)

  • Import primary metal manufacturing prices trended similarly to export prices from 2022 to 2024. Import and export prices for primary metals trended higher than producer prices. Even though import and export price indexes rose throughout the 3-year period, producer prices declined.
  • The producer price index for primary metal manufacturing declined 21.7 percent over the 3-year period ended December 2024. The index declined 15.7 percent in 2022, decreased 4.0 percent in 2023, and fell 3.3 percent in 2024.

Q: How have export metal prices trended over the 2022–2024 period? (See chart 1)

  • Export primary metals prices increased 9.0 percent from December 2021 to December 2024. Prices for export primary metals decreased 1.3 percent in 2022, declined 5.0 percent in 2023, and rose 16.2 percent in 2024.
  • For the 3-year period ended December 2024, prices for export primary metals peaked in April 2022. The index then declined, reaching the 3-year low in October 2023. The index for export primary metals prices rose 20.9 percent from October 2023 to December 2024.
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Q: What are the top six exporting states and territories for metal manufacturing? (See chart 2)

  • In 2024, the total trade value of exported primary metals was $75.8 billion, a 2.2 percent increase from 2023. The top 6 exporting states accounted for 55.3 percent of this value.
  • New York ranked first among U.S. states and territories with $15.0 billion in export trade value. That accounted for 19.8 percent of total U.S. primary metal manufacturing exports.
  • Utah and Texas ranked second and third with $8.1 billion and $5.9 billion in trade dollar value, respectively. The two states accounted for 10.7 percent and 7.8 percent of total U.S. primary metal manufacturing exports, respectively.
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Q: How are import and export price indexes useful to you?

Import and export price indexes can provide a new perspective for your trade analyses. Although many sources report domestic market prices and trade volume, IPP data are unique in measuring import and export price movement.

For example, if you are involved in the metal industry and are considering conducting business overseas, IPP primary metal manufacturing indexes can supplement your industry research by providing long-term import and export price trends.

Q: How are import and export price indexes used?

Import and export price indexes are used for a variety of purposes:

  • In the conversion of U.S. trade figures from current dollars to constant dollars in U.S. trade statistics including the Bureau of Economic Analysis’ Quarterly Gross Domestic Product and the Census Bureau’s monthly U.S. trade statistics.
  • To assess the impact of international trade on domestic inflation and the competitive position of the United States.
  • As a tool for analyzing fiscal and monetary policy, measuring the impact of exchange rates, and escalating trade contracts.
  • To identify industry-specific and global price trends.

Last Modified Date: July 18, 2025