Prices of China's chemical raw materials, chemical products rose 4% year-on-year in February

The latest information from China’s State Bureau of Statistics showed that, due to the continuous increase in the price of international crude oil, prices in domestic oil-related industries have also continued to rise, with oil and natural gas extraction prices rising by 7.5%, while prices in oil, coal and other fuel processing industries rose by 4.9%, and prices in the chemical fiber manufacturing industry rose by 3.6%, and prices in the chemical raw material and chemical product manufacturing industry rose by 2.1%, which caused an overall rise of some 0.45% in terms of PPI.

Concerning IPI, on a month-on-month basis, the price of fuel and power rose by 3.3%, while the price of ferrous metal materials rose by 2.2%, and the price of chemical raw materials rose by 1.3%, and the price of non-ferrous metal materials and wires rose by 1.2%.

Among major industries, the price of chemical raw materials and chemical products rose by 4.0%, which is a 2.8% extended rise. The price falling range, which has decreased, includes oil and natural gas extraction, down by 6.4%, which is a 15.5% decrease while the price of oil, coal and other fuel processing industries are down by 0.5%, which is an 8.5% decrease.  

From January to February, on average, PPI rose by 1.0% year-on-year while IPI rose by 1.6% year-on-year.