Canada Raw Materials Prices Extend Rebound in October

In October 2025, Canada's Raw Materials Price Index (RMPI) experienced a 1.6% increase from the previous month, building on September's 1.7% rise. This growth was primarily driven by a notable 9.0% increase in prices for metal ores, concentrates, and scrap, with significant contributions from gold, silver, and platinum group metals, which surged by 13.8%. This marks their most substantial growth since August 2020. However, prices for crude energy products declined by 4.3%, as synthetic crude dropped by 5.3% and conventional crude by 4.3%, largely due to a global oversupply caused by increased production from both OPEC and non-OPEC countries. When excluding crude energy products, the RMPI saw a 4.2% increase.

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