The National Bureau of Statistics released national PPI (Industrial Producers Ex-factory Price Index) data on April 11, showing that in the first quarter, the ex-factory price of industrial producers fell by 2.7% compared with the same period last year, and the purchase price of industrial producers fell by 3.4%. Among them, the prices of chemical raw materials and chemical products manufacturing fell by 6.3%, the prices of oil and natural gas extraction increased by 4.6%, and the prices of oil, coal and other fuel processing industries fell by 4.5%.
In March, as industrial production resumed after the holiday and the supply of industrial products was relatively sufficient, the national PPI fell by 0.1% month-on-month, narrowing the decline from the previous month; it fell by 2.8% year-on-year, and the decline widened slightly. The purchase price of industrial producers fell by 3.5% year-on-year and 0.1% month-on-month.
     From a month-on-month perspective, international import factors drove up the prices of China's petroleum and non-ferrous metals-related industries in March. The prices of oil and natural gas exploration, oil, coal and other fuel processing industries rose by 1.1% and 0.2% respectively; chemical raw materials and chemical products manufacturing prices rose by 0.3%. Coal supply was generally stable, demand for heating coal decreased, and prices in the coal mining and washing industries fell by 1.6%. Among the equipment manufacturing industry, the prices of new energy vehicle manufacturing and lithium-ion battery manufacturing fell by 1.3% and 0.9% respectively; the prices of railway, ship, aerospace and other transportation equipment manufacturing increased by 0.3%; and the prices of computer communications and other electronic equipment manufacturing remained flat. Among the consumer goods manufacturing industries, the prices of culture, education, industry, beauty, sports and entertainment products manufacturing, chemical fiber manufacturing, and textiles increased by 0.7%, 0.3%, and 0.2% respectively; the prices of agricultural and sideline food processing industries fell by 1.1%.
From a year-on-year perspective, among the major industries, the price of coal mining and washing industry fell by 15.0%, the price of non-metallic mineral products industry fell by 8.1%, the price of ferrous metal smelting and rolling processing industry fell by 7.2%, and the price of agricultural and sideline food processing industry fell by 4.4%., the prices of computer communications and other electronic equipment manufacturing industry fell by 2.5%. The decline in the above five industries expanded compared with the previous month, and the total impact on PPI dropped by approximately 1.62 percentage points year-on-year; The prices of chemical raw materials and chemical products manufacturing fell by 6.3%, the prices of electrical machinery and equipment manufacturing fell by 4.3%, and the prices of petroleum, coal and other fuel processing industries fell by 4.2%. The declines in the above three industries narrowed compared with the previous month, and the total impact PPI fell by approximately 0.82 percentage points year-on-year; automobile manufacturing prices fell by 1.5%, the same decline as the previous month. Prices in the non-ferrous metal smelting and rolling processing industry turned from a 0.2% decline in the previous month to a 0.6% increase. Oil and natural gas extraction prices rose 6.3%, an increase of 2.1 percentage points. Prices in the culture, education, industry, art, sports and entertainment products manufacturing industry have risen for many consecutive months, with an increase of 4.2% this month.
Among the purchase prices of industrial producers in March, the prices of building materials and non-metals fell by 7.2% year-on-year and 0.6% month-on-month; the prices of chemical raw materials fell by 5.4% year-on-year and 0.1% month-on-month; and the prices of fuel and power fell by 4.9%, up 0.7% month-on-month. Source: Sinochem New Network