China's PPI rose 1.2% month-on-month, widening 0.8 percentage point from the
prior month, the National Bureau of Statistics said. International crude oil and
nonferrous metal price increases were primary drivers: petroleum extraction
+14.5%, refined petroleum products manufacturing +7.4%, organic chemical raw
materials manufacturing +5.4%, nonferrous metal ore mining +1.6% and nonferrous
metal smelting and rolling +1.5% — those five industries together added about
0.63ppt to MoM PPI. Seasonal and supply-side tightening lifted energy and
raw-material prices: coal mining and washing +9.5%, coal processing +13.6%;
demand recovery for steel and cement and higher input costs pushed non-metallic
mineral products to +0.3% (after seven months of declines) and ferrous metal
smelting and rolling +0.2% — these four industries contributed roughly 0.38ppt.
Faster development in AI and computing-power collaboration raised demand in
electrical machinery & equipment and computer, communications and other
electronic equipment manufacturing, each +0.4%, together adding about 0.07ppt to
MoM PPI.
