Canadian chemical prices fell 0.7% in Dec from Nov – agency

31 January 2012 15:26  [Source: ICIS news]

TORONTO (ICIS)--Canadian prices for chemicals and chemical products fell by 0.7% in December from November, a government statistics agency said on Tuesday.

Compared with December 2010, prices for chemicals and chemical products were up 4.8% year on year Statistics Canada said.

Meanwhile, prices for rubber, leather and plastic fabricated products fell 0.1% in December from November but were up 3.9% year on year from December 2010.

Overall, Canadian industrial product prices fell 0.7% in December from November, mainly because of lower petroleum and metals prices, but also because of the lower chemical and chemical product prices, the agency said.

Compared with December 2010, overall industrial product prices were up 2.8% year on year.

In related news, Toronto-based Scotiabank said on Tuesday that its monthly Canadian commodity price index declined 1.3% in December from November, mainly because of lower metals and natural gas prices.

However, in January, sentiment on commodity markets generally improved, said Patricia Mohr, the bank’s commodity market specialist.

Mohr pointed to better US economic sentiment indicators, in particular to stronger US auto sales and manufacturing orders.

Also, hedge funds were “beginning to anticipate” a return to pro-growth policies in China, she added.

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
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