Newspaper article The Canadian Press

Scotiabank Commodity Price Index Rebounds in January after Year-End Decline

Newspaper article The Canadian Press

Scotiabank Commodity Price Index Rebounds in January after Year-End Decline

Article excerpt

Scotiabank Commodity index up 3.8% in January

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TORONTO - Commodity prices started the year on a stronger note, rising 3.8 per cent month-over-month in January after losing significant ground late last year, according to the Scotiabank commodity price index.

"Riskier assets such as commodities and equities were buoyed in January by the 2012 fourth-quarter pickup in China's economy," the bank's commodity market specialist Patricia Mohr said in remarks accompanying the release of the index Wednesday.

"However, market conditions remain skittish, with some industrial commodity prices and equity markets easing back again in late February."

The oil and gas prices were the strongest performers, rising 9.2 per cent from December, led by firmer light crude prices in Edmonton and stronger propane prices in Edmonton and Sarnia, Ont.

The metal and mineral prices also edged up in January -- 0.3 per cent higher as copper prices responded favourably to the pickup in China's growth, which accelerated to 7.9 per cent in the final three months of 2012 from 7. …

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