The Canadian economy had a poor start to 2015, with oil prices down 50% creating new lows for the Canadian dollar. The Ontario manufacturing sector is gaining market share due to the lower currency, but Alberta’s energy sector industry is facing cutbacks with the fallen market prices.
Aluminum – Prices were increased for the month January. The lower Canadian dollar and energy costs have now made Canadian products a lot more attractive to American manufacturers. If the increased demand continues further, price increases can be expected.
Carbon Steel – Cold Rolled and Hot Rolled Steel prices stabilized in January. Canada’s trade sector, which is centered largely in Ontario and Quebec, stands to benefit from the combination of a stronger U.S. economy and weaker Canadian dollar. Ontario manufacturers who are dealing with auto-parts companies are having difficulty keeping up with demand due to the lower dollar. The situation in western Canada is not good with Suncor, Shell, Canadian Natural Resources and Husky all pulling back large amount of capital spending and cutting jobs.
Stainless – Prices increased in the month of January. Prices took a large jump in January mainly because of the USD exchange rate, which is impacting both the base cost and the surcharge. Manufacturers are advised to stay ahead on their monthly purchases to avoid the inevitable increase coming in the next month.
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