Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Canada’s Industrial Production Price Index (IPPI) grew by 14.2pc in April on an annual basis and by 1.7pc from March, according to Statistics Canada (StatCan). 


The country’s primary ferrous metal product IPPI saw a 15.4pc increase in April this year from the same month in 2020 and was up by 2.7pc from March this year. Its primary non-ferrous metal products’ IPPI rose by 30pc in April on an annual basis. The IPPI for fabricated metal products and construction material grew by 10.8pc in April 2021 annually while it increased by 1.9pc from the prior month. The IPPI for motorized and recreational vehicles dropped by 2.9pc in April from the same month in 2020 and rose by 0.2pc from March 2021. 


StatCan also reported that Canada’s total investment in building & construction rose by 9.3pc to C$53.1bn ($43.6bn) in Q1 2021 compared to the previous quarter. In March, investment in building & construction grew by 5.9pc to C$18.6mn on a monthly basis.


Investment in residential construction in March increased by 7.6pc to C$14bn compared to February this year. Under this, investment in single units increased by 10.7pc and multi-units rose by 3.9pc on an monthly basis. 


Non-residential construction funding increased by 1.1pc to C$4.6bn in March compared to February. Institutional construction investments grew by 2.2pc and commercial building investment increased by 0.8pc while industrial investment rose by 0.4pc in March on a monthly basis. 


($1 = C$1.22)

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