Prices of chemical raw materials and products fell 6.9% year-on-year in October
Source: Sinochem New Network 
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November 13, 2023, 11:03 AM
National PPI (Industrial Producers Ex-Factory Price Index) data released by the National Bureau of Statistics on November 9 showed that industrial production and operation activities continued to expand in October, affected by factors such as fluctuations in international crude oil and non-ferrous metal prices and a higher comparison base in the same period last year., the national PPI turned from rising to flat month-on-month, and the year-on-year decline expanded slightly.
In October 2023, the ex-factory price of industrial producers nationwide fell by 2.6% year-on-year and remained flat month-on-month; the purchase price of industrial producers fell by 3.7% year-on-year and increased by 0.2% month-on-month.
From a month-on-month perspective, PPI turned flat from a 0.4% increase in the previous month. Affected by fluctuations in international crude oil and non-ferrous metal prices, the prices of oil and natural gas exploration, petroleum, coal and other fuel processing industries rose by 2.8% and 2.5% respectively, with the increase falling by 1.3 and 0.6 percentage points respectively; the prices of coal mining and washing industries rose by 3.4%, the increase expanded by 2.3 percentage points. In addition, the chemical raw materials and chemical products manufacturing industry increased by 0.7% month-on-month.
On a year-on-year basis, PPI fell by 2.6%, an increase of 0.1 percentage points from the previous month. The year-on-year decline widened, mainly due to the higher comparative base in the same period last year. Among the major industries, the price decline narrowed: coal mining and washing industry fell by 15.4%, narrowing by 0.2 percentage points; chemical raw materials and chemical products manufacturing industry fell by 6.9%, narrowing by 0.2 percentage points; petroleum, coal and other fuel processing industry fell by 3.8%, narrowing by 2.9 percentage points. In addition, oil and natural gas extraction prices turned to a 1.7% increase from a decline of 3.3% in the previous month.
Among the purchase prices of industrial producers, the price of fuel and power fell by 6.7% year-on-year and rose by 1.4% month-on-month; the price of chemical raw materials fell by 6.3% year-on-year, and rose by 1% over the previous year.
1-10 On average, 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 3.6%. Source: Sinochem New Network
In October 2023, the ex-factory price of industrial producers nationwide fell by 2.6% year-on-year and remained flat month-on-month; the purchase price of industrial producers fell by 3.7% year-on-year and increased by 0.2% month-on-month.
From a month-on-month perspective, PPI turned flat from a 0.4% increase in the previous month. Affected by fluctuations in international crude oil and non-ferrous metal prices, the prices of oil and natural gas exploration, petroleum, coal and other fuel processing industries rose by 2.8% and 2.5% respectively, with the increase falling by 1.3 and 0.6 percentage points respectively; the prices of coal mining and washing industries rose by 3.4%, the increase expanded by 2.3 percentage points. In addition, the chemical raw materials and chemical products manufacturing industry increased by 0.7% month-on-month.
On a year-on-year basis, PPI fell by 2.6%, an increase of 0.1 percentage points from the previous month. The year-on-year decline widened, mainly due to the higher comparative base in the same period last year. Among the major industries, the price decline narrowed: coal mining and washing industry fell by 15.4%, narrowing by 0.2 percentage points; chemical raw materials and chemical products manufacturing industry fell by 6.9%, narrowing by 0.2 percentage points; petroleum, coal and other fuel processing industry fell by 3.8%, narrowing by 2.9 percentage points. In addition, oil and natural gas extraction prices turned to a 1.7% increase from a decline of 3.3% in the previous month.
Among the purchase prices of industrial producers, the price of fuel and power fell by 6.7% year-on-year and rose by 1.4% month-on-month; the price of chemical raw materials fell by 6.3% year-on-year, and rose by 1% over the previous year.
1-10 On average, 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 3.6%. Source: Sinochem New Network