According to the latest PPI data released by the National Bureau of Statistics (NBS) on January 12, 2021, the producer prices of extractive industries fell by 6.8% month-on-month in December, an increase of 4.7 percentage points. Year-on-year growth was 44.2 percent, or 16.3 percentage points narrower. For the whole of last year, the producer price of extractive industries rose 34.4 percent from 2020.
In December last year, the effect of the policy to ensure supply and stabilize prices continued to show, and the price of industrial products fell due to the lower prices of some international commodities, including crude oil. Prices of coal, ferrous metals and other minerals continued to fall, while prices of non-ferrous metals and non-ferrous metals remained stable.
On a month-on-month basis, the price of coal mining and washing decreased by 8.3%, or 3.4 percentage points; Oil and gas extraction prices fell 6.9 per cent, down from 6.5 per cent in November; The price of ferrous metal mining and selection decreased by 8.7% or 2.4 percentage points. The price of non-ferrous metal mining and selection rose 0.5 percent, or 0.2 percentage points. Non-metal mining and selection prices rose 0.9 percent, or 0.2 percentage points.
On a year-on-year basis, the price of coal mining and washing rose 66.8 percent, down 22 percentage points. Oil and gas mining prices rose 45.6 percent, down 22.9 percentage points. Ferrous metal mining prices fell 2.6 per cent, down from 9.5 per cent in November. The price of non-ferrous metal mining and selection rose 12.3 percent, or 0.8 percentage points less. The price of non-metallic mining and selection rose 7.1 percent, an increase of 0.7 percentage points.
