Canada Raw Materials Prices Rise 2.6% in April on Energy Surge

2026-05-22 13:03 By Joana Ferreira 1 min. read

Canada’s raw materials prices increased 2.6% month-over-month in April 2026, following an 11.9% jump in March, as shipping disruptions in the Strait of Hormuz drove energy prices higher.

Excluding crude energy products, raw materials prices declined 0.5%.

Crude energy product prices rose 8.2% in April, after a 41.1% surge in March, with conventional crude oil up 6.2% and synthetic crude oil rising 17.8%.

According to the International Energy Agency, global oil supply fell by another 1.8 million barrels per day in April, following a loss of over 10 million barrels per day in March.

Meanwhile, prices for metal ores, concentrates, and scrap declined 0.9%, led by a 3.0% drop in gold, silver, and platinum group metal ores and concentrates.

This included decreases in gold ores and concentrates (-2.9%) and silver ores and concentrates (-3.2%).



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Canada Raw Materials Prices Rise 2.6% in April on Energy Surge
Canada’s raw materials prices increased 2.6% month-over-month in April 2026, following an 11.9% jump in March, as shipping disruptions in the Strait of Hormuz drove energy prices higher. Excluding crude energy products, raw materials prices declined 0.5%. Crude energy product prices rose 8.2% in April, after a 41.1% surge in March, with conventional crude oil up 6.2% and synthetic crude oil rising 17.8%. According to the International Energy Agency, global oil supply fell by another 1.8 million barrels per day in April, following a loss of over 10 million barrels per day in March. Meanwhile, prices for metal ores, concentrates, and scrap declined 0.9%, led by a 3.0% drop in gold, silver, and platinum group metal ores and concentrates. This included decreases in gold ores and concentrates (-2.9%) and silver ores and concentrates (-3.2%).
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