19.1% price increase in chemical raw materials and products manufacturing in 2021

The National Bureau of Statistics released on January 12, 2021 national PPI (industrial producer ex-factory price index) data show that in December, the effect of the policy of supply and price stability continued to emerge, coupled with the impact of crude oil and other parts of the international commodity prices lower, industrial commodity prices have fallen.

In December 2021, the national industrial producer ex-factory prices rose 10.3% year-on-year, down 1.2%; industrial producer purchase prices rose 14.2% year-on-year, down 1.3%. Among them, chemical raw materials and chemical products manufacturing prices rose 23.8% year-on-year, down 2.1% ringgit.

In terms of ringgit, PPI turned flat from last month to down 1.2%. Among them, the price of production materials fell 1.6%, the rate of decline than the previous month to expand 1.5 percentage points; living materials prices from up 0.4% to flat. The implementation of policies to ensure stable prices continue to increase, coal prices continue to fall, coal mining and washing industry prices fell 8.3%, down by 3.4 percentage points; coal processing prices fell 15.4%, down by 7.0 percentage points. Winter steel, cement and other construction materials demand is weak, prices have fallen, ferrous metal smelting and rolling processing industry prices fell 4.4%, non-metallic mineral products industry prices fell 1.4%. International crude oil and non-ferrous metal prices were lower, driving down prices in related domestic industries. Oil extraction prices fell 8.3%, refined petroleum products manufacturing prices fell 4.0%, chemical raw materials and chemical products manufacturing prices fell 2.1%; non-ferrous metal smelting and rolling processing industry prices fell 1.4%. In addition, the price of imported liquefied natural gas rose, affecting the gas production and supply industry prices rose 5.3%; coal-fired power generation market price fluctuation range expanded, the price of electricity and heat production and supply industry rose 3.0%.

From a year-on-year perspective, PPI rose 10.3%, or 2.6 percentage points lower than the previous month. Among them, the price of production materials rose 13.4%, down 3.6 percentage points; the price of living materials rose 1.0%, the same rate of increase as last month. Survey of 40 industrial industry categories, prices rose in 37, the same as last month. Among the major industries, prices fell: coal mining and washing industry rose 66.8%, down 22.0 percentage points; oil and gas extraction industry rose 45.6%, down 22.9 percentage points; oil, coal and other fuel processing industry rose 36.4%, down 16.7 percentage points; chemical raw materials and chemical products manufacturing prices rose 23.8%; ferrous metal smelting and rolling processing industry rose 21.4%, down 9.6 percentage points; non-ferrous metal smelting and rolling processing industry rose 20.0%, down 6.5 percentage points. Price increases were expanded: gas production and supply industry rose 12.5%, expanding 1.6 percentage points; electricity and heat production and supply industry rose 4.8%, expanding 2.4 percentage points; food manufacturing industry rose 4.2%, expanding 0.7 percentage points.

For the whole year of 2021, the ex-factory prices of industrial producers rose by 8.1% over the previous year, and the purchase prices of industrial producers rose by 11.0%. Among them, the price of chemical raw materials and chemical products manufacturing industry rose by 19.1%. (Content republished/sourced from: CPS Online/China Chemical New Network)

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