Manufacturing Prices of Chemical Raw Materials and Products in May Rose 13.6% Year-on-year and 0.6% Month-on-month

According to data released by the National Bureau of Statistics on the 10th, in May, the ex-factory price of industrial producers nationwide increased by 6.4% year-on-year and 0.1% month-on-month; the purchasing price of industrial producers increased by 9.1% year-on-year and 0.5% month-on-month. Among them, the prices of chemical raw materials and chemical products manufacturing increased by 13.6%, up 0.6% month-on-month.

From a month-on-month perspective, the PPI increased by 0.1% in May, a decrease of 0.5 percentage points from the previous month. Among them, the prices of means of production rose by 0.1%, and the increase fell by 0.7 percentage points; the prices of living means rose by 0.3%, and the increase increased by 0.1 percentage points.

International crude oil prices fluctuated upwards, driving up prices in related domestic industries. Among them, the price of oil and natural gas extraction industry increased by 1.3%, the price of petroleum coal and other fuel processing industry increased by 0.9%, the price of chemical fiber manufacturing industry increased by 0.8%, and the price of chemical raw material and chemical products manufacturing industry increased by 0.6%.

With the safe and orderly release of advanced coal production capacity in various places, various measures are taken to ensure coal supply, and the management of market expectations has been strengthened. 

On a year-on-year basis, the PPI rose by 6.4% in May, a decrease of 1.6 percentage points from the previous month. Among them, the prices of means of production rose by 8.1%, and the growth rate dropped by 2.2 percentage points; the prices of living materials rose by 1.2%, and the growth rate increased by 0.2 percentage points.

Of the 40 major industrial sectors surveyed, 37 saw price increases, the same as last month. Among the major industries, the price increases fell: coal mining and washing industry rose 37.2%, down 16.2 percentage points; non-ferrous metal smelting and rolling processing industry rose 10.4%, down 6.4 percentage points; petroleum, coal and other fuel processing industries rose 34.0% %, down 4.7 percentage points; chemical raw materials and chemical products manufacturing industry increased by 13.6%, down 1.3 percentage points. The price increases expanded: the gas production and supply industry rose by 22.0%, an increase of 1.3 percentage points; the electricity and heat production and supply industry rose by 9.7%, an increase of 0.4 percentage points. Prices for the ferrous metal smelting and rolling industry fell 1.3%, the first year-on-year decline since September 2020.

Among the purchasing prices of industrial producers, the price of fuel and power in May rose by 31.6% year-on-year and 0.4% month-on-month; the price of chemical raw materials increased by 10.5% year-on-year and 0.2% month-on-month.

On average from January to May, the ex-factory price of industrial producers rose by 8.1% over the same period of last year, and the purchase price of industrial producers rose by 10.8%.