The National Bureau of Statistics said China’s PPI shifted from a 0.7% MoM
decline last month to a 0.4% MoM increase. Imported input costs — notably higher
international crude oil and non-ferrous metal prices — pushed up domestic sector
prices: oil extraction +10.4% MoM, refined petroleum products manufacturing
+4.1%, organic chemical raw materials manufacturing +0.9%, and non-ferrous metal
smelting and rolling +0.8%. Those four industries together contributed roughly
0.31 percentage points to the PPI MoM rise.