London 09/06/2016 - China’s ex-works producer prices in the non-ferrous metal smelting and fabricating industry fell 7.7 percent year-on-year in May, according to data released by the country's National Bureau of Statistics on Thursday.
The extent of rgw decline in May was the same as in April. The year-on-year price drops had earlier eased from 8.3 percent in March, 10.7 percent in February and 12.1 percent in January.
The May prices were up one percent from April.
Producer prices in the industry dipped 9.3 percent year-on-year in January-May.
Additionally, producer prices in the local non-ferrous metal mining sector decreased 2.4 percent year-on-year, but rose 1.7 percent month-on-month in May.
Producer prices in the sector slipped 5.7 percent year-on-year in the first five 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 May PPI at -2.8 percent registered its 51st straight month of decline. The fall, however, was gentler than the market forecast of a 3.1-percent drop and March’s reading of -3.4 percent.
(Editing by Martin Hayes)