China's steel industry saw a 6.6% annual drop in the Producer Price Index (PPI) for August, as reported by the National Bureau of Statistics of China. Within the metal smelting and rolling industry, there was a slight 0.1% monthly increase but a notable yearly decline.
Over the January to August period, this index registered a significant 12.2% decrease compared to the same period last year.
For the specific month in question, the overall PPI decreased by 3% annually, with a 0.2% monthly uptick. Additionally, the purchase prices of industrial producers fell by 4.6% annually but saw a slight 0.2% monthly increase.
During the January to August timeframe of this year, the general PPI dipped by 3.2% when compared to the same period last year, while the purchase prices for industrial producers experienced an annual decrease of 3.6%.