The metal and mineral sub-index of Scotiabank’s commodity price index edged up slightly in December, after a sharp decline in November. However, market conditions in early 1993 remain soft.
In Japan and Germany, metals consumption in 1993 is expected to decline as the demand for manufactured goods decreases.
The metal and mineral sub-index was up 1.4% in December from November and off by 5.5% from one year ago. The all-items index rose by 1.5% in December to a level 4.4% about a year ago.
The all-commodity index tracks export prices of a variety of Canadian commodities, which are weighted according to their 1984 export values, except crude oil, for which the value of net exports is used.
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