Producer Prices in the Manufacture of Chemical Raw Materials and Chemical Products Rose by 16.4% Year-on-Year in October

In October, prices in the oil and gaseous extraction sector, the petroleum, coal, and other fuel processing sector, and the manufacture of chemical raw materials and chemical items sector rose by 35.0%, 29.9%, and 16.4% year-on-year, respectively; they increased by 6.0%, 6.1%, and 3.1% month-on-month, respectively.

Year-on-Year Changes in Producer Prices

In October, within the producer price index to manufactured goods, prices to means of production rose by 7.4% year-on-year, contributing approximately 5.77 percentage points to the overall increase in the PPI. Specifically, prices in the mining sector rose by 27.9%, the raw materials sector by 11.6%, and the processing sector by 3.5%. Prices to means of subsistence (consumer goods) fell by 0.1%, pulling the overall PPI down by approximately 0.03 percentage points. Within this category, food prices fell by 1.6%, clothing prices by 1.3%, and prices to general daily necessities by 0.7%, while prices to durable consumer goods rose by 1.4%.

Regarding purchase prices to manufacturing producers, prices to fuel and power rose by 18.6%, chemical raw materials by 16.8%, non-ferrous metal materials and wires by 16.7%, textile raw materials by 5.3%, and agricultural and sideline items by 0.5%. Conversely, prices to construction materials and non-metallic mineral items fell by 1.9%, and prices to ferrous metal materials declined by 1.1%.

Month-on-Month Changes in Producer Prices

In October, within the producer price index to manufactured goods, prices to means of production rose by 0.9% month-on-month, contributing approximately 0.75 percentage points to the overall increase in the PPI. Specifically, prices in the mining sector rose by 2.8%, the raw materials sector by 2.0%, and the processing sector by 0.2%. Prices to consumer goods fell by 0.1%, contributing to a decline of approximately 0.01 percentage points in the overall producer price index. Within this category, food prices remained flat, clothing prices dropped by 0.2%, and prices to both general daily necessities and durable consumer goods decreased by 0.1%.

Regarding producer purchase prices, costs to fuel and power rose by 4.1%, chemical raw materials by 3.2%, textile raw materials by 0.6%, and construction materials and non-metallic mineral items by 0.4%. Conversely, prices to ferrous metal materials fell by 0.6%, while those to non-ferrous metal materials (including wires and cables) and agricultural by-items both declined by 0.3%.

Data shows that to the January–October period, producer prices increased by an average of 2.7% compared to the same period last year, while producer purchase prices rose by 4.0%. (Source: China Chemical News)

SunSirs has been continuously tracking price data to over 200 commodities to nearly 20 years, please contact support@sunsirs.com to subscription.