The National Bureau of Statistics released the national PPI (Factory Price Index of Industrial Producers) data for August 2020. In August, industrial production continued to improve, market demand continued to recover, and prices of international bulk commodities such as crude oil, iron ore, and non-ferrous metals continued to rise, driving domestic industrial product prices to continue to rise.

Data show that in August, the national factory prices for industrial producers fell by 2.0% year-on-year and increased by 0.3% month-on-month; the purchasing prices for industrial producers fell by 2.5% year-on-year and increased by 0.6% month-on-month.

From a month-on-month comparison, among the 40 major industrial sectors, 17 had price increases, 4 less than the previous month; 18 decreased, 3 increased, and 5 remained unchanged, 1 increased. Affected by the changes in international crude oil prices, the price increase of oil-related industries has slowed down. Among them, the price of oil and natural gas extraction industry increased by 3.6%, and the price of petroleum, coal and other fuel processing industries increased by 1.2%, and the increase rate dropped by 8.4 and 2.2 respectively. percentage point.

Among other major industries, the chemical raw materials and chemical products manufacturing industry fell 0.2%, the chemical fiber manufacturing industry fell 1.2%, and the rubber and plastic products industry fell 0.2%.

From a year-on-year perspective, among the major industries, the oil and natural gas extraction industry had a narrower price decline, which fell by 25.2%, or 2.6 percentage points; the oil, coal and other fuel processing industries, fell 16.7%, or 0.3 percentage points. The increase in the price drop was coal mining and washing, which fell by 8.0%, an increase of 0.6 percentage point; for chemical raw materials and chemical products manufacturing, prices fell by 7.6%, an increase of 0.1 percentage point.

Among the purchasing prices of industrial producers, the price of fuel and power fell by 9.8% year-on-year and increased by 0.4% month-on-month; the price of chemical raw materials fell by 8.4% year-on-year, and remained unchanged from the previous month.

On average from January to August, the ex-factory price of industrial producers fell by 2.0% over the same period last year, and the purchase price of industrial producers fell by 2.7%. Among them, the ex-factory prices of chemical raw materials and chemical products manufacturing fell by 6.8%, chemical fiber manufacturing fell by 14.2%, and rubber and plastic products fell by 1.9%.

Source from MOLBASE