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Over in Germany, import prices have jumped sharply - partly due to the recovery in oil prices and the jump in commodity prices.
Destatis reports that import prices rose by 1.7% on a monthly basis in May, up from 1.4% in April.
Compared to May 2020, iron ores (+83.6%), copper (+65.1%), non-ferrous metal ores (+46.6%), plastics in primary forms (+42.9%) and pig iron increased in price, Steel and ferro-alloys (+32.4%) significantly.
The main reason for the sharp rise in iron ore prices is likely to be the continued strong global demand.
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