China PPI in November is Flat MoM

Published: Dec 09, 2021 11:12 (GMT+8)

Save

In November 2021, Producer Price Index (PPI) for manufactured goods rose 12.9% year-on-year, unchanged from the previous month. The purchasing price index for manufactured goods rose 17.4% year-on-year, up 1.0% from the previous month. From January to November, the producer price of industrial products rose 7.9% from the same period last year, and the purchasing price of industrial products rose 10.7%.

SHANGHAI, Dec 9 - In November 2021, Producer Price Index (PPI) for manufactured goods rose 12.9% year-on-year, unchanged from the previous month. The purchasing price index for manufactured goods rose 17.4% year-on-year, up 1.0% from the previous month. From January to November, the producer price of industrial products rose 7.9% from the same period last year, and the purchasing price of industrial products rose 10.7%.

Year-on-Year Changes of Prices of Different Categories

Among the PPI for manufactured goods, the year-on-year producer prices for means of production increased by 17 percent, affecting 12.66 percentage points increase in the overall level of producer price. Among them, producer prices for mining and quarrying industry, raw materials industry, manufacturing and processing industry increased by 60.5, 25.0 and 10.1 percent respectively. Producer prices for consumer goods increased by 1 percent, meaning 0.26 percentage point increase in the overall price level. In details, producer prices for foodstuff increased by 1.6 percent, and that of clothing and commodities rose by 1.2 percent and 1.4 percent respectively, while that of durable consumer goods decreased by 0.1 percent.

Among the purchaser price index, the year-on-year purchaser price indices for fuel and power, non-ferrous metal materials and wires, chemical raw materials and ferrous metal materials jumped by 43.8, 25.1, 24.7 and 19.4 percent respectively.

Month-on-Month Changes of Prices of Different Categories

Among the PPI for manufactured goods, the prices for means of production went down by 0.1 percent month-on-month, affecting 0.06 percentage points decrease in the overall level of producer price. Among them, producer prices for mining and quarrying industry, raw materials industry and manufacturing and processing industry dropped 2.1, increased 0.9 and declined 0.3 percent respectively. The prices of consumer goods increased by 0.4 percent, affecting 0.08 percentage point increase in the overall level of producer price. In details, the producer prices for foodstuff grew by 0.8 percent, and that of clothing and commodities both increased by 0.4 percent, while that of durable consumer goods dropped by 0.2 percent.

The month-on-month purchaser price indices for fuel and power, chemical raw materials increased by 3.5 and 1.9 percent respectively, and that of non-ferrous metal materials and wire was flat; while that of ferrous metals materials decreased by 2.3 percent.

PPI

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Oct 02, 2026 16:31 (GMT+8)

KGHM and South32 launch US$725m Sierra Gorda expansion, lifting copper capacity 26%

KGHM and South32 have broken ground on a fourth grinding line at the Sierra Gorda copper-molybdenum mine in Chile's Atacama region. The US$725 million expansion runs for three years from January 2027, with completion by late 2029 and full output in H2 2030. Ore processing capacity rises 26%, from 131,000 tonnes per day to 165,000 tpd. Annual copper output is projected to climb from 165,000 tonnes in 2025 to 195,000 tonnes, with 6,000 tonnes of molybdenum, 58,000 ounces of gold and 1.7 million ounces of silver as by-products. The project creates over 900 direct jobs and is funded from operating cash flow and debt. Unit operating costs are expected to fall about 10%.

Oct 02, 2026 16:31 (GMT+8)

Oct 02, 2026 15:31 (GMT+8)

Emerita Extends Final Review of Iberian Belt West PFS, Release Expected in Coming Weeks

Emerita Resources has provided an update on the Preliminary Feasibility Study (PFS) for its Iberian Belt West polymetallic project in Spain, saying the study is well advanced but remains under final technical review. The company said the review process has been expanded to include additional technical and quality-assurance oversight before publication. As a result, Emerita now expects the PFS to be released in the coming weeks rather than within the previously indicated timeframe. Iberian Belt West hosts copper, zinc, lead, gold and silver mineralization and is one of Emerita’s principal development-stage assets in Spain. The PFS is expected to provide updated detail on the proposed mine plan, processing configuration, capital requirements, operating costs and project economics. Emerita said the additional review work is intended to ensure consistency and completeness across the technical disciplines contributing to the study before it is finalized. The company did not announce a revised specific publication date, and no new production, capital or economic figures were disclosed in the latest update. The extended review delays the next major technical milestone for Iberian Belt West, but the company continues to indicate that the PFS is nearing completion. For the copper market, the significance of the study will depend on the production profile and project economics ultimately disclosed, particularly the contribution of copper relative to the project’s other payable metals. Attention will therefore remain on the timing of the PFS release and whether the final study materially changes the project’s development outlook.

Oct 02, 2026 15:31 (GMT+8)

Oct 02, 2026 15:27 (GMT+8)

Cascadia Intersects 75.55 m at 1.19% Cu at Carmacks Copper-Gold Project

Cascadia Minerals has reported additional drill results from its 2026 exploration programme at the Carmacks copper-gold project in Yukon, Canada, with new step-out drilling extending mineralization at Zone 2000S beyond the boundaries of the existing Mineral Resource. Drill hole CD-26-058 returned 75.55 metres grading 1.19% copper, 0.97 g/t gold, 10.4 g/t silver and 335 ppm molybdenum, equivalent to 2.18% copper-equivalent. The interval included 48.66 metres grading 1.61% copper, 1.39 g/t gold, 15.1 g/t silver and 475 ppm molybdenum, equivalent to 3.03% CuEq. Within the same hole, a higher-grade interval of 14.50 metres returned 2.30% copper, 2.68 g/t gold, 29.5 g/t silver and 1,015 ppm molybdenum, equivalent to 5.08% CuEq. A second hole, CD-26-059, intersected 93.99 metres grading 0.96% copper, 0.70 g/t gold, 4.6 g/t silver and 919 ppm molybdenum, equivalent to 1.94% CuEq. This included 63.97 metres at 1.26% copper, 0.96 g/t gold, 6.3 g/t silver and 1,049 ppm molybdenum, equivalent to 2.52% CuEq. Cascadia said the latest results continue to expand mineralization at Zone 2000S beyond the limits of the current Mineral Resource and highlight the higher-grade nature of the extension. The reported drill intervals represent drilled thicknesses, with true widths estimated at approximately 60–70%. The latest step-out results indicate that copper-gold mineralization at Zone 2000S extends beyond the boundaries of the current Carmacks Mineral Resource. The broad intervals and higher-grade internal zones could support future resource expansion if additional drilling confirms continuity. However, the new intersections have not yet been incorporated into an updated Mineral Resource Estimate, meaning their ultimate impact on project scale and mine planning remains to be determined.

Oct 02, 2026 15:27 (GMT+8)