China Feb industrial ex-factory prices up 3.5 pct yr-on-yr -
Wednesday, March 24, 2004 2:31:09 AM
afxpress.com
(Updating with breakdown of price increases)
BEIJING (AFX-ASIA) - China's industrial ex-factory prices rose 3.5 pct year-on-year in February, the same rate of increase as in January, driven by surging prices of steel, coke and food, the National Bureau of Statistics said
The growth rates in January and February are the highest since the 3.6 pct rise in April 2003 according to previously released figures
Production material prices rose 4.6 pct year-on-year in February, flat with January, accounting for 3.4 percentage points of the growth in the overall ex-factory prices index, the NBS said. However, crude oil prices fell 0.1 pct year-on-year and petrol prices fell 1.6 pct year-on-year in February. Ex-factory prices of daily necessities in February rose 0.5 pct, almost double the 0.3 pct growth seen in January, which was the first monthly year-on-year increase since 1997. Among 39 industrial sectors, 34 sectors saw prices increase in February, with the highest growth seen in the ferrous metals mining sector, where prices rose 32.7 pct year-on-year. Prices of mined materials including coal and oil, rose 4.2 pct year-on-year in February, but that was 3.3 percentage points lower than that of January, and raw materials prices were up 5.4 pct in February, 0.9 percentage point lower than that of January
However, price rises in other sectors continued to accelerate. Processing industry prices were up 4.2 pct in February, 1.1 percentage points higher than in January. Food prices rose 3.9 pct, 0.1 percentage point higher than in January while garment prices rose 0.9 pct, 0.5 percentage point higher than the previous month. Ferrous metals processing prices rose 22 pct, non-ferrous metals processing prices were up 13.7 pct, non-ferrous metals mining prices were up 12.2 pct and agricultural and animal husbandry products processing prices were up 11.2 pct
Large-scale steel products prices were up 26.9 pct last month, with medium- and small-scale products up 36.7 pct and 30.2 pct respectively
Steel rod prices were up 33.7 pct and medium and thick steel plate prices were up 19.7 pct
Iron ore prices were up 34.5 pct while coke prices were up 36.9 pct
Nickel prices rose 40.7 pct, alumina prices were up 22.5 pct, copper prices up 18.1 pct and zinc prices rose 15.1 pct
Kerosene prices were up 2.6 pct year-on-year in February, 8 percentage points lower than in January. Diesel oil prices rose 1.9 pct year-on-year in February, 8.9 percentage points lower than in January
Coal mining and washing prices were up 8.7 pct year-on-year in February, 0.8 percentage point higher than in January while coal prices were up 9.3 pct, 1.3 percentage point higher than in January
Raw materials, fuel and power prices were up 8.1 pct year-on-year in February
Ferrous metals rod purchase prices were up 18.7 pct, non-ferrous metals materials purchase prices rose 15.8 pct and agriculture and animal husbandry products purchase prices were up 15 pct
However, durable goods prices continued to fall, down 4.3 pct year-on-year in February after a 4.6 pct fall in January. Telecommunications and other electronics equipment manufacturing prices fell 5.7 pct and pharmaceuticals prices fell 2.7 pct
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