Canada's chemical prices rise by 2.1% month on month in May

06 July 2011 16:49  [Source: ICIS news]

TORONTO (ICIS)--Canada’s chemicals and chemical product prices rose by 2.1% in May compared with April, a government statistics agency said on Wednesday.

Compared with May 2010, chemicals and chemical product prices increased by 6.8% year on year, Statistics Canada said.

Prices for plastics and rubber products rose by 1.0% in May on a month-on-month basis, an increase of 1.0% from May last year.

Increases in the chemical, plastics and rubber sectors are part of an overall decline in Canada’s industrial product prices of 0.2% in May from the month previously.

Statistics Canada said the decline – the first in nine months – was due to declines in metals and oil prices.

The agency also said that its raw materials price index fell by 5.2% in the month from April.

Meanwhile, Canadian chemical railcar shipments are up by 11.8% to 289,383 year-to-date to 25 June, according to the latest data from the Association of American Railroads.

Read Paul Hodges’ Chemicals and the Economy Blog

By: Stefan Baumgarten
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