In October this year, China's producer price index (PPI) for its ferrous metal smelting and rolling sector decreased by 6.1 percent year on year, 0.3 percentage points higher than the year-on-year decrease rate recorded in September, according to data released by China's National Bureau of Statistics (NBS) on November 9. This month, producers’ prices will likely continue their downward trend due to slacker demand in winter in the Chinese steel market, as well as owing to cheaper raw materials.
China's overall producer price index (PPI) edged down by 1.6 percent year on year in October, with the declining pace 0.4 percentage points higher than September, and was up 0.1 percent month on month. Meanwhile, in October Chinese industrial producers' purchase prices were down 2.1 percent year on year and rose by 0.2 percent compared to September.