Ex-factory prices of chemical raw materials and products fell by 9.4% year-on-year in the first half of the year
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July 11, 2023, 11:23 AM
The National Bureau of Statistics released PPI (Industrial Producer Price Index) data for June 2023 on July 10. Affected by factors such as the continued decline in the prices of bulk commodities such as oil and coal and the high comparison base in the same period last year, the PPI was month-on-month and year-on-year. Both fell.
In June 2023, the ex-factory price of industrial producers nationwide fell by 5.4% year-on-year and 0.8% month-on-month; the purchase price of industrial producers fell by 6.5% year-on-year and 1.1% month-on-month.
From a month-on-month perspective, PPI fell by 0.8%, a decline of 0.1 percentage points from the previous month. Among them, the price of means of production fell by 1.1%. Affected by the continued decline in crude oil prices in the international market, prices of petroleum, coal and other fuel processing industries, oil and natural gas exploration industries, chemical raw materials and chemical products manufacturing industries fell by 2.6%, 1.6%, and 2.6% respectively. The supply of coal and steel is large, and the prices of coal mining and washing, ferrous metal smelting and rolling processing industries have dropped by 6.4% and 2.2% respectively.
On a year-on-year basis, PPI fell by 5.4%, an increase of 0.8 percentage points from the previous month. The year-on-year decline was mainly due to the continued decline in prices in oil, coal and other industries. Among them, the price of means of production fell by 6.8%, and the decline expanded by 0.9 percentage points. Among the 40 industrial sectors surveyed, prices fell in 25, one less than the previous month. Among the major industries, the price declines of oil and natural gas exploration, oil, coal and other fuel processing, chemical raw materials and chemical products manufacturing, and coal mining and washing industries were 25.6%, 20.1%, 14.9%, and 19.3% respectively.
In the first half of the year, the ex-factory price of industrial producers fell by 3.1% compared with the same period last year, and the purchase price of industrial producers fell by 3.0%. Among them, the prices of chemical raw materials and chemical products manufacturing fell by 9.4% year-on-year; the prices of oil and natural gas extraction fell by 13.5%; and the prices of petroleum, coal and other fuel processing fell by 8.1%. Source: Sinochem New Network
In June 2023, the ex-factory price of industrial producers nationwide fell by 5.4% year-on-year and 0.8% month-on-month; the purchase price of industrial producers fell by 6.5% year-on-year and 1.1% month-on-month.
From a month-on-month perspective, PPI fell by 0.8%, a decline of 0.1 percentage points from the previous month. Among them, the price of means of production fell by 1.1%. Affected by the continued decline in crude oil prices in the international market, prices of petroleum, coal and other fuel processing industries, oil and natural gas exploration industries, chemical raw materials and chemical products manufacturing industries fell by 2.6%, 1.6%, and 2.6% respectively. The supply of coal and steel is large, and the prices of coal mining and washing, ferrous metal smelting and rolling processing industries have dropped by 6.4% and 2.2% respectively.
On a year-on-year basis, PPI fell by 5.4%, an increase of 0.8 percentage points from the previous month. The year-on-year decline was mainly due to the continued decline in prices in oil, coal and other industries. Among them, the price of means of production fell by 6.8%, and the decline expanded by 0.9 percentage points. Among the 40 industrial sectors surveyed, prices fell in 25, one less than the previous month. Among the major industries, the price declines of oil and natural gas exploration, oil, coal and other fuel processing, chemical raw materials and chemical products manufacturing, and coal mining and washing industries were 25.6%, 20.1%, 14.9%, and 19.3% respectively.
In the first half of the year, the ex-factory price of industrial producers fell by 3.1% compared with the same period last year, and the purchase price of industrial producers fell by 3.0%. Among them, the prices of chemical raw materials and chemical products manufacturing fell by 9.4% year-on-year; the prices of oil and natural gas extraction fell by 13.5%; and the prices of petroleum, coal and other fuel processing fell by 8.1%. Source: Sinochem New Network