The metal market is experiencing a sharp decline in the last few years.
And a few weeks ago, a Canadian government-owned company announced it was taking an unusual step: It was shutting down all production of some of the country’s most precious metals.
“It is our hope that this will lead to a more competitive, less volatile market in the years ahead,” said Peter B. Gagnon, chief executive of the Canadian Metals and Mining Association.
He made the announcement at a news conference Thursday in Winnipeg.
Metals prices in Canada fell by more than a third over the past year as a result of the decline in demand for metals, especially copper, gold and silver.
The metals industry is facing a severe shortage, as producers are faced with a surge in demand from China, Japan and India.
It’s a problem that is expected to be exacerbated by a possible government-sponsored rescue of the metals industry, which has been struggling to compete with cheaper imports.
The government has been trying to find ways to boost demand and boost the countrys economy, but there is a steep price difference between the metal prices in China and the Canadian dollar.
Prices in the U.S. have been falling for months.
“The price difference is so big that it makes it difficult for people to compete,” said Robert McNeil, chief economist at the Conference Board of Canada.
He said that’s hurting Canadian companies.
“What we’re seeing now is a drop in the price of metals, which is a big drag on growth in the metal sector.”
The government is planning to sell off some of its remaining stockpiles, which include precious metals like gold, silver and platinum, as part of a rescue plan to save the industry.
The plan is expected by the end of the year.
The Canadian government’s decision to shut down the industry will have a significant impact on the economy, and will help the country avoid a recession, said Marc Poulin, chief investment officer at CIBC World Markets.
“I’m concerned it will actually have a negative impact on Canada,” he said.
The metal industry has been in decline for years, but it is still growing.
The market is down more than 25 per cent from a peak in early 2014.
That drop is partly driven by the price drops in the metals markets of China, where China’s government is trying to help the market recover.
The country’s government has said it will buy gold, copper and silver from the United States to help ease the financial squeeze caused by a drop from the Chinese currency.
In recent months, the price for the metals has also fallen, but not as much.
“There is a real concern about the cost and the competitiveness of the industry,” Mr. Poullin said.
Canada has the third-largest metal market in North America behind the U:S.
and the U.-Korea.
It has a large domestic market for metal products and exports some of it.
But the country is also importing more metals from the U., which is causing the prices to rise.