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Commodity prices fall average of 2.4%
By Richard Fu |
January 11, 2013, Friday
|
Online Edition
Online Edition
A gauge covering the prices of 58 major commodities in China fell an average 2.4 percent in 2012, according to 100PPI.com, a data provider.
The prices of 21 products rose last year mainly in the agricultural and energy sectors while 37 commodities posted a decline, led by products in the chemical and steel sectors, according to data released today.
The 58 commodities cover all contracts traded on China's three commodities futures exchanges. They range from silver and sugar to steel rebar and rubber. Prices declined 4.79 percent annually in 2011.
The best performer in 2012 was pure benzene, used chiefly as an intermediate to make other chemicals. Its price surged 34 percent, according to 100PPI. The worst product was butadiene rubber, which fell 30.4 percent.
Liu Xintian, a chief analyst at 100PPI, said although the economy is set to improve this year, the price average may still fall 1.5 percent. Agricultural products could still outperform this year, while chemical products may be black horse. The rebound in the steel sector in the final months of 2012 is likely to be short lived, he said.
The prices of 21 products rose last year mainly in the agricultural and energy sectors while 37 commodities posted a decline, led by products in the chemical and steel sectors, according to data released today.
The 58 commodities cover all contracts traded on China's three commodities futures exchanges. They range from silver and sugar to steel rebar and rubber. Prices declined 4.79 percent annually in 2011.
The best performer in 2012 was pure benzene, used chiefly as an intermediate to make other chemicals. Its price surged 34 percent, according to 100PPI. The worst product was butadiene rubber, which fell 30.4 percent.
Liu Xintian, a chief analyst at 100PPI, said although the economy is set to improve this year, the price average may still fall 1.5 percent. Agricultural products could still outperform this year, while chemical products may be black horse. The rebound in the steel sector in the final months of 2012 is likely to be short lived, he said.
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