The price index for raw materials published by Germany's Bavarian Industry Association (vbw) has increased by 7% between March and April, marking the largest rise in over two years.
"Global conflicts and the trade dispute between the US and China are having an impact on the raw materials markets," said vbw chief executive Bertram Brossardt on Friday.
The association's current raw materials price index stands at 147.9 points, almost a third higher than the 2019 level, according to Brossardt.
Tin, a metal needed in the electrical and chemical industries and central to many future technologies, became 15% more expensive in April, the vbw boss said.
"The procurement risk of tin is increasing," said Brossardt, explaining that supply is limited, with only a few companies worldwide mining tin.
Chromium (+13%), silver (+13%), aluminium (+12%) and copper (+9%) also became noticeably more expensive in April, the association announced in Munich. Prices for rare earths rose by an average of 4.5%.
The vbw raw materials price index includes the world market prices of 42 types of raw materials in US dollars.