On November 15, the National Bureau of Statistics announced on its website the changes in the ex-factory prices of major industrial products. According to the latest data, during the period from October 21 to November 10, domestic ex-factory prices for petroleum, chemicals, and non-ferrous metals rose sharply from the previous period (October 11 to October 20), and the increase was significant. enlarge. This has also become a testament to some recent experts claiming that inflation is attacking the Chinese economy.
According to the data from the National Bureau of Statistics, from the quarter-on-quarter increase in the prices of specific products, coal rose by 2.3%; crude oil rose by 6.7%, but gasoline and diesel in finished products rose by only 3.4%; in chemical products, sulfuric acid rose by 11.1% and caustic soda. It rose 12.5%, ethylene rose 6.8%, polyvinyl chloride resin rose 1.6%, and petroleum bitumen rose 0.5%. In non-ferrous metals, copper rose 4.8%, aluminum rose 2.9%, and zinc rose 6.5%.
It is understood that the National Bureau of Statistics publishes the changes in the ex-factory prices of major industrial products twice a month. This period's data reflects the changes in prices before November 10, compared with the previous period (before October 20). Among the major industrial products, 21 prices have risen, and the increase has further increased. For example, natural crude oil prices rose 6.7% month-on-month, while the previous increase was zero; the chain's growth rate of sulfuric acid was 11.1%, compared with 5.6% in the previous period. The only industrial product that has not risen in price this time is iron ore lump ore for steelmaking, but this product also maintains high prices. Before that, the price of the product has risen significantly. The previous period's increase was 2%, and the month-on-month increase was zero.
According to industry analysts, from the relevant data, the price of 22 kinds of industrial products did not fall. This is a new situation in the current period. This also means that commodity prices may have entered a new round of price increase cycles, and the ex-factory prices of industrial products are expected to continue to rise. “We expect that PPI will accelerate recovery with the rebound of crude oil prices. Together with the market’s expectation that the Fed will again introduce easing policy, the market will continue weak US dollar and strong commodities before December,†said Xing Weiwei, a macro analyst at China Investment Securities. In the fourth quarter, PPI gains may rise to 5.5%."
According to the data from the National Bureau of Statistics, from the quarter-on-quarter increase in the prices of specific products, coal rose by 2.3%; crude oil rose by 6.7%, but gasoline and diesel in finished products rose by only 3.4%; in chemical products, sulfuric acid rose by 11.1% and caustic soda. It rose 12.5%, ethylene rose 6.8%, polyvinyl chloride resin rose 1.6%, and petroleum bitumen rose 0.5%. In non-ferrous metals, copper rose 4.8%, aluminum rose 2.9%, and zinc rose 6.5%.
It is understood that the National Bureau of Statistics publishes the changes in the ex-factory prices of major industrial products twice a month. This period's data reflects the changes in prices before November 10, compared with the previous period (before October 20). Among the major industrial products, 21 prices have risen, and the increase has further increased. For example, natural crude oil prices rose 6.7% month-on-month, while the previous increase was zero; the chain's growth rate of sulfuric acid was 11.1%, compared with 5.6% in the previous period. The only industrial product that has not risen in price this time is iron ore lump ore for steelmaking, but this product also maintains high prices. Before that, the price of the product has risen significantly. The previous period's increase was 2%, and the month-on-month increase was zero.
According to industry analysts, from the relevant data, the price of 22 kinds of industrial products did not fall. This is a new situation in the current period. This also means that commodity prices may have entered a new round of price increase cycles, and the ex-factory prices of industrial products are expected to continue to rise. “We expect that PPI will accelerate recovery with the rebound of crude oil prices. Together with the market’s expectation that the Fed will again introduce easing policy, the market will continue weak US dollar and strong commodities before December,†said Xing Weiwei, a macro analyst at China Investment Securities. In the fourth quarter, PPI gains may rise to 5.5%."
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