Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Canada’s manufacturing sales declined by 0.6pc in November to C$53.7bn ($42.1bn) from the previous month, according to Statistics Canada (StatCan). 


Aerospace and motor vehicle parts and products were among the five of 21 industries covered by Statcan, which witnessed a drop in sales in November. 


In November, transportation equipment sales declined by 9.1pc to C$8.9bn from the previous month while sales for motor vehicle bodies and trailers rose by 5.9pc during the same period. 


Aerospace sales slipped by 23.8pc to C$1.2bn in November from the previous month, StatCan reported, while Motor vehicle sales fell by 16.9pc to C$4.3bn in November on an annual basis and by 5.7pc from October 2020. Sales of motor vehicle parts also fell by 9.7pc to C$2.5bn in November 2020 from the same prior-year period and by 6pc from the previous month. 


On the other hand, fabricated metal product sales rose by 3.4pc to C$3.3bn and increased by 5.3pc for non-metallic mineral products in November, from October 2020. 


Fabricated metals inventory rises

Canada’s inventory levels rose by 0.8pc to C$87.1bn in November from the previous month led by fabricated metal products where stocks rose by 7.2pc and machinery inventory which increased by 3.4pc. Aerospace products and parts declined by 4.7pc during this period. 


Unfilled orders in November fell by 3.6pc to C$85.5bn with aerospace products and parts declining by 7.7pc compared to October. The total value of new orders also decreased by 1.2pc to C$50.4bn mainly because of a 34.6pc dip in new orders in the transportation equipment industry. 


Canada’s manufacturing industry’s capacity utilization rate fell by 78.3pc in November from the previous month due to a 3.9pc drop in capacity utilization of non-metallic mineral products and a 3.2pc decline in fabricated metal products, StatCan noted. 


($1 = C$1.27)

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