0.65% of the wholesale price basket
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Metal producers realise more when steel rises; it is a core input for autos, capital goods and construction.
% = raw materials as share of sales
Directional and observational - our classification of who uses this as an input vs sells it as output. The chips are just the largest listed names in each sector, not a claim that this commodity is material to any particular company - individual exposure varies. Raw materials as a share of sales is shown on the consumer side. Not advice.