Singapore 09/09/2016 - China’s ex-works producer prices in the non-ferrous metal smelting and fabricating industry grew 0.8 percent year-on-year in August, according to data released by the country's National Bureau of Statistics on Tuesday.
This is the first positive year-on-year growth for producer prices in the industry since September 2014.
Price declines in the industry have been easing since the beginning of the year – it was at 12.1 percent in January and 2 percent in July.
The August prices rose 0.5 percent from July.
Producer prices in the industry dipped 6.8 percent year-on-year in the first eight months of the year.
Additionally, producer prices in the local nonferrous metal mining sector increased 8.6 percent year-on-year and 1.2 percent month-on-month in August.
Producer prices in the sector slipped 2.2 percent year-on-year in January-August.
The industries above were part of those surveyed by the bureau to tabulate the country’s producer price index (PPI) for industrial products.
Chinese overall PPI in August fell 0.8 percent, improving from a drop of 1.7 percent in July and better than consensus of a 1-percent drop. August, however, marked the 54th straight month of decline for Chinese PPI.