Prices of Industrial Raw Materials to Recover in 1993

On world markets for industrial raw materials a slight upward trend in prices set in in mid 1992. Following the strong decline by 11 percent in 1991 the annual rate levelled off to –2 percent in 1992. For 1993, the moderate upward trend observed in the latter part of 1992 is projected to continue yielding an annual rise of 6 percent, provided further recovery in the international business cycle. In particular, world market quotations for non-ferrous metals like lead, aluminium and tin as well as those for agricultural raw materials should rise in 1993. Austrian import prices on a schilling basis did not exhibit any increase in 1992, with major industrial raw materials like cotton, aluminium or lead becoming cheaper. Rising world market prices are expected to hit Austria with the usual time lag.