China’s producer price index (PPI) rose 1.7 percent year-on-year in February 2021, up 0.8 percent month-on-month, according to the National Bureau of Statistics (NBS) on March 10.Purchasing prices for industrial producers rose 2.4 percent year-on-year and 1.2 percent month-on-month. On a month-on-month basis, the PPI rose 0.8 percent, 0.2 percentage points lower than the previous month.Of this, prices for the means of production rose by 1.1 percent, or 0.1 percentage points lower.Subsistence prices were flat after rising 0.2 percent in the previous month.Of the 40 industrial sectors surveyed, prices rose in 25, fell in 10 and were flat in 5, consistent with changes in the previous month.
Influenced by the international crude oil prices continue upward, domestic oil prices continue to rise related industries, 7.5% increases in the prices of oil and gas industry, oil, coal and other fuel prices rose 4.9% in processing, chemical fiber industry prices rose 3.6%, chemical raw materials and chemical products manufacturing prices rose 2.1%, total affect PPI rose about 0.45%.
As a result, the price of chemicals associated with crude oil has soared, such as Sodium Metabisulfite/Sodium Metabisulphite, Sodium Sulfite, Sodium Hydrosulfite, Baking Soda/Sodium Bicarbonate, Calcium Chloride, Barium Chloride, Barium Hydroxide and so on.It is believed that prices will continue to rise for some time.
As a major chemical country, China will account for about 40% of the global output by 2020. The price fluctuation of Chinese chemical products will have a huge impact on the international chemical market. At early stage, some foreign buyers in wait-and-see state, miss the best opportunity to order. March is still the golden period for purchasing. It is suggested that international buyers stock up on goods in a proper amount, such as Sodium Metabisulfite/Sodium Metabisulphite, Sodium Sulfite, Sodium Hydrosulfite, Baking Soda/Sodium Bicarbonate, Calcium Chloride, Barium Chloride, Barium Hydroxide etc., so as to fully seize the positive effects of market fluctuations.
Post time: Mar-12-2021