Singapore 10/05/2016 - China’s ex-works producer prices in the nonferrous metal smelting and fabricating industry fell 7.7 percent year-on-year in April, according to data released by the country's National Bureau of Statistics on Tuesday.
The decline has eased from year-on-year declines of 8.3 percent in March, 10.7 percent in February and 12.1 percent in January.
The April prices were up one percent from March.
Producer prices in the industry dipped 9.7 percent year-on-year in January-April.
Additionally, producer prices in the local nonferrous metal mining sector decreased 3.5 percent year-on-year but rose 1.2 percent month-on-month in April.
Producer prices in the sector slipped 6.5 percent year-on-year in the first four months of the year.
The industries above were part of those surveyed by the bureau to tabulate the country’s producer price index (PPI) for industrial products.
China’s overall April PPI at -3.4% registered its 50th straight month of decline. The fall, however, was gentler than market forecast of a 3.9-percent drop and March’s reading of -4.3 percent.