Prices of most of China's production goods decline

Most major production goods monitored by the Chinese government posted lower prices in the last 10 days of January compared with the previous 10 days, official data shows.

Of the 50 goods monitored by the government, including seamless steel tubes, gasoline, coal, fertilizer and some chemicals, 27 goods saw their prices fall during the period, with 14 posting higher prices and nine seeing their prices unchanged, according to the National Bureau of Statistics (NBS).

Prices of chemicals such as styrene and polyester filament grew notably, while liquefied natural gas (LNG) and liquefied petroleum gas (LPG) led the declines, the figures show.

Prices of coal products, nonmetal building materials and agricultural products also dropped or remained flat.

The reading, released every 10 days, is based on a survey of nearly 1,700 wholesalers and distributors in 24 provinces and regions.

Source(s): Xinhua News Agency