PPI y/y decline expanded in March, while m/m decline narrowed. PPI -0.1% m/m, with a -0.1% input prices and producer prices for consumption goods remained at -0.1%.
SpineeOP :
China's annual PPI dropped as the resumption of post-holiday industrial production led to a relatively sufficient supply of industrial products.
International import factors have driven up the prices in domestic oil and non-ferrous metal-related industries. The prices of oil and natural gas extraction industry, and oil, coal, and other fuel processing industry rose by 1.1% and 0.2% respectively.
The price of the non-ferrous metal smelting and rolling processing industry increased by 0.6%, among which the prices of gold smelting and copper smelting rose by 2.2% and 1.6% respectively.
The overall supply of coal is stable with decreasing demand for heating coal, resulting in a 1.6% drop in the prices of the coal mining and washing industry.
Affected by the sluggish property market, the demand for industries such as steel and cement is recovering relatively slowly, leading to a 1.2% decrease in the prices of both ferrous metal smelting and rolling processing industry and cement manufacturing.
The prices of lithium-ion battery manufacturing and new energy vehicle manufacturing have decreased by 0.9% and 1.3% respectively, and computer communication and other electronic equipment manufacturing remained flat.
SpineeOP :
China's annual PPI dropped as the resumption of post-holiday industrial production led to a relatively sufficient supply of industrial products.
International import factors have driven up the prices in domestic oil and non-ferrous metal-related industries. The prices of oil and natural gas extraction industry, and oil, coal, and other fuel processing industry rose by 1.1% and 0.2% respectively.
The price of the non-ferrous metal smelting and rolling processing industry increased by 0.6%, among which the prices of gold smelting and copper smelting rose by 2.2% and 1.6% respectively.
The overall supply of coal is stable with decreasing demand for heating coal, resulting in a 1.6% drop in the prices of the coal mining and washing industry.
Affected by the sluggish property market, the demand for industries such as steel and cement is recovering relatively slowly, leading to a 1.2% decrease in the prices of both ferrous metal smelting and rolling processing industry and cement manufacturing.
The prices of lithium-ion battery manufacturing and new energy vehicle manufacturing have decreased by 0.9% and 1.3% respectively, and computer communication and other electronic equipment manufacturing remained flat.