China's steel industry PPI decreases faster in August, to recover in September

Tuesday, 10 September 2019 10:14:33 (GMT+3)   |   Shanghai, Istanbul
       

In August this year, China's producer price index (PPI) for its ferrous metal smelting and rolling sector decreased by 3.1 percent year on year, 2.7 percentage points bigger than the year-on-year decrease rate recorded in July, according to data released by China's National Bureau of Statistics (NBS) on September 10. This month, producers’ prices will likely see a rebounding trend due to governmental support and better demand in peak season in the Chinese steel market, as well as owing to more expensive raw materials.

China's overall producer price index (PPI) edged down by 0.8 percent year on year in August, 0.5 percentage points lower than July, and was down 0.1 percent month on month. Meanwhile, in August Chinese industrial producers' purchase prices were down 1.3 percent year on year and declined by 0.2 percent compared to July. 


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