FX.co ★ Canada Raw Materials Prices Rise Against Expectations in December

In December 2025, Canada’s Raw Materials Price Index (RMPI) rose 0.5% compared to the previous month, building on a 0.3% increase in November, and defying forecasts of a 0.5% decline. The prices of animals and animal products dropped by 1.3% during the month. Crude energy products experienced a 4.1% decrease, with conventional crude oil down 4.7%, affected by an excess supply in the global oil market and weak demand from China. On the other hand, the cost of metal ores, concentrates, and scrap surged by 6.2%, driven by a significant 25.0% rise in silver ore prices and a 3.7% increase in gold ore prices, marking the eighth month of continuous growth. When crude energy products are excluded, the RMPI saw a 2.4% increase.