The entity pointed out that “during the first two months of 2023, the increase in the ICM (16.1%) remained above inflation (13.1%), widening the gap between costs and prices.”
He Metallurgical Cost Index (ICM) registered an increase of 12.5% during February 2023 and accumulates an increase of 16.1% in the first two months of the year, while in interannual terms the ICM accumulates an increase of 120.3%, according to a report prepared by the Association of Metallurgical Industrialists of the Argentine Republic (ADIMRA).
The entity stated that “During the first two months of 2023, the increase in the ICM (16.1%) remained above inflation (13.1%), widening the gap between costs and prices”.
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According to the numbers provided by ADIMRA, “the greatest increases within the structure of metallurgical costs occurred in the price of electric power. According to the monomic price reported by CAMMESA, electric power registered a rise of 21.6% during the first two months of the year. As for non-ferrous inputs, they accumulated an increase of 13.2%, while basic ferrous inputs increased 11.5% during the first two months of 2023.”
The document details that “The items that registered the greatest increases in their cost structure during the first two months of 2023 were Foundry (19.5%), due to the strong increase in electricity rates, and Electrical equipment and appliances (17.0%), product of the strong increase in the price of electrical conductors (+17.9%)”
Source: Ambito
