In July this year, China's producer price index (PPI) for its ferrous metal smelting and rolling sector decreased by 0.4 percent year on year, 0.1 percentage point lower than the year-on-year decrease rate recorded in June, according to data released by China's National Bureau of Statistics (NBS) on August 9. This month, producer’s prices will go down more sharply, taking into account the recent drop in raw material prices and the overall negative sentiments in the Chinese steel market.
China's overall producer price index (PPI) edged down by 0.3 percent year on year in July, shifting from year-on-year stability in June, and was down 0.2 percent month on month. Meanwhile, in July Chinese industrial producers' purchase prices were down 0.6 percent year on year and declined by 0.2 percent compared to June.
