Slowdown signs - Chinese prices for industrial products fall in May

Platts quoted the latest figures from the National Bureau of Statistics showed this week that China's ex-plant prices for industrial products in May fell 7.2%YoY on the back of continued lower prices for raw materials and petroleum compared with last year.

In May, the prices of raw materials, fuel and power dipped 10.4%YoY while prices for production materials dropped 8.8% from a year ago.

The bureau figures showed mining and exploration prices fell 21.8% year on year. Nonferrous metals smelting and processing prices declined 23.9% during the month. Copper fell 38.2%YoY with aluminium down 20%. Lead dropped 32.4% from year ago while zinc plunged 37.4%.

Overall ex-plant prices for ferrous products in May also fell 22.4%YoY.

Large and medium-sized steel products saw prices in May drop 28.1% and 29%, respectively, while prices for small steel products fell 22.8% year on year. Prices of steel wires were down 31.3%, while that of medium to thick steel sheets dipped 34% from a year ago.

China's ex-plant prices for industrial products over January to May fell 5.5%YoY with the prices of raw materials fuel and power down 8.2% from a year ago.

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