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Price of Material for Production Kept Falling

According to monitoring by MOFCOM in 36 medium and large sized cities last week (March 18-24), price of material for production fell further.

Of major materials for production, prices of mineral products, rubber, energy resources, non-ferrous metals, chemical products, steel and materials for agricultural production fell as compared with that of the previous week, materials for light industry remained unchanged, while that of building materials rose slightly.

The price of mineral products fell by2.4%, of which iron ore,tin ore, and copper ore were down by 2.7%, 2.1% and 1.6% respectively, and lead ore and zinc ore fell by 0.8% and 0.3% respectively.

The price of rubber fell by 1.9% due to falling prices of chemical raw materials and labor costs, with the price of butadiene rubber, styrene-butadiene rubber and nitrile rubber fell by 3.9%, 3.7% and 2.6% respectively.

The price of energy resources was down by 0.4%, of which crude oil and raw coal fell by 1% and 0.3% respectively, and coke remained unchanged.Price of non-ferrous metal was down by 0.3%, of which tin #1, zinc #1, and copper #1fell by 1.9%, 0.7% and 0.5% respectively, nickel #1 and lead #1 fell by 0.4% and 0.3% respectively, while aluminum A00 was up by 0.1%.

Price of chemical products fell by 0.2%, of which phenol, benzene and phthalic anhydride were down by1%, 0.8% and 0.7% respectively.

The price of steel fell by 0.2% due to lower manufacturer's price and thereduced costs for steel-making, with the price ofrebar of Φ12mm, channel steel#8and equilateral steel#5fell by 0.4%, 0.3% and 0.3% respectively.Building materials rose by 0.2%, of which the price of timber was up by 0.8%.
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