China PPI fell 0.3% MoM in June, the National Bureau of Statistics said.
International crude weakness drove sharp oil-sector declines: oil extraction
prices -16.0% MoM and refined petroleum products manufacturing -3.1% (widening
by 14.2 and 2.8 percentage points vs May). Chemical raw-materials and
chemical-fiber manufacturing shifted from MoM gains to declines of 2.0% and 0.8%
Seasonal peak-summer demand lifted coal mining and washing prices respectively.
5.6% MoM; household cooling appliance manufacturing +0.6%; refrigeration and
air-conditioning equipment +0.4%. Ample summer precipitation, sunlight and wind
cut power prices: hydro -9.1%, solar -2.5% and wind -2.2% MoM.