Canada metal ore prices achieve another record high

Prices for Canada’s primary ferrous metals and fabricated metal products slipped month-on-month in February, whilst metal ore concentrate increased, Kallanish discovers from the latest data gathered by Statistics Canada.

According to the agency's industrial producer price index, the nation's monthly pricing for metal ore concentrates increased by 4.7% m-o-m to a reading of 172.6 points. This marked the sixth consecutive monthly gain and is the highest reading since Statistics Canada began tracking in January 2010. The February result marks a 27.0% year-on-year increase.

Primary ferrous metal products prices in Canada decreased by 0.4% on-month, with an index reading of 134.1 points. This segment is down 8.2% year-on-year.

Fabricated metal product prices in Canada were down by 0.2% m-o-m to an index reading of 142.0 points.

The industrial producer price index utilises January 2020 as the base month for price comparison, set at 100 points on the scale.

Source:Kallanish