FX.co ★ Canada Raw Materials Prices Drop in August

In August 2025, Canada's Raw Materials Price Index (RMPI) decreased by 0.6% on a month-over-month basis, reversing the 0.3% increase observed in July and falling short of the anticipated 1.2% gain. The decline was predominantly driven by crude energy products, which fell by 3.7%. Conventional crude oil dropped by 3.5% and synthetic crude oil by 5.1%, influenced by oversupply concerns following OPEC+'s decision to raise its production target for September. Prices for crop products saw a 1.7% decline, mainly due to a 6.4% decrease in canola prices, affected by reduced demand from China as a result of tariffs. In contrast, prices for metal ores, concentrates, and scrap experienced a 2.0% increase, with gold and silver ores continuing their year-long upward trend. When excluding crude energy, the RMPI rose by 0.9% in August and registered a substantial 15.5% increase compared to the previous year. Meanwhile, the overall index recorded an annual growth of 3.2%.