China's steel industry PPI falls at slower rate in Dec compared to Nov

Thursday, 09 January 2020 12:01:28 (GMT+3)   |   Shanghai
       

In December last year, China's producer price index (PPI) for its ferrous metal smelting and rolling sector decreased by 0.7 percent year on year, 4.6 percentage points slower than the year-on-year decrease rate of 5.3 percent recorded in November, according to data released by China's National Bureau of Statistics (NBS) on January 9.

In 2019, China's producer price index (PPI) for its ferrous metal smelting and rolling sector decreased by 2.1 percent year on year. In the current month of January, producers’ prices will likely move sideways due to quiet activity in the Chinese steel market against the backdrop of the Chinese New Year holiday.

China's overall producer price index (PPI) edged down by 0.5 percent year on year in December, 0.9 percentage points slower compared to 1.4 percent decline recorded in November, while it remained stable month on month. Meanwhile, in December Chinese industrial producers' purchase prices were down 1.3 percent year on year and remained stable compared to November. 


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