Canada July chemical prices down by 2.6% from June – agency

30 August 2011 15:15  [Source: ICIS news]

TORONTO (ICIS)--Canadian prices for chemicals and chemical products fell by 2.6% in July compared with June, a statistics agency said on Tuesday.

The decline in chemical prices was mainly due to lower prices for organic chemicals, which saw an 8.8% slide from June, Statistics Canada said.

“Lower production costs, market and competition conditions, and the strength of the Canadian dollar against the US dollar all played a significant role in the decline of chemical product prices,” the agency added.

Compared with July 2010, Canadian chemicals prices rose by 9.3% year on year, Statistics Canada said.

Canadian prices for rubber and plastics products fell by 0.3% in July from June, but were up by 1.0% year on year from July 2010.

The country’s overall industrial product price index fell by 0.3% in July from June, with the decline led by the lower chemical prices, as well as lower prices for motor vehicles, the agency said.

The index was up by 5.1% year on year from July 2010.

Read Paul Hodges’ Chemicals and the Economy blog

By: Stefan Baumgarten
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