Falling crude prices combined with a lack of demand
Release date: [2024/1/17]  Read total of [72] times

According to the survey data of the Shaoxing survey team of the National Bureau of Statistics, in December 2023, the prices of industrial producers in Shaoxing fell by 0.3% month-on-month, and the purchase prices rose by 0.1% month-on-month. Producer prices fell 2.9 per cent year-on-year, the same as in the previous month. The purchase price fell 1.9 per cent year-on-year, 1.1 percentage points slower than the previous month. In the January-December period, producer prices fell 3.6 percent year on year, and purchase prices fell 4.7 percent year on year.


Changes in ex-factory prices of industrial producers


In December, affected by factors such as the continued decline in international crude oil prices and insufficient demand in some industrial products markets, PPI declined month-on-month and the year-on-year decline was flat. The decline in international oil prices led to a decline in the prices of chemical raw materials and chemical products manufacturing and chemical fiber manufacturing, respectively, by 0.6% and 0.9%. The downstream textile market has entered the off-season, the overall performance of market orders is poor, and the price of the textile industry fell by 0.4%. Copper smelting prices were affected by imported factors, and non-ferrous metal smelting and rolling processing industries rose by 1.0%. In addition, with the increase in coal prices during the winter, electricity and heat production and supply industry prices rose 1.4 percent.


Changes in purchasing prices of industrial producers


In December, the purchase price of nine major industrial producers in Shaoxing City was "four up and five down". Among them, the major categories of price increases are fuel, power (1.3%), ferrous metal materials (1.2%), wood and pulp (0.6%) and non-ferrous metal materials and wires (0.3%). The top three categories of price decline are agricultural and sideline products (-1.8%), building materials and non-metals (-0.5%) and chemical raw materials (-0.3%).


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