Three major European Union chemical trade partners
The data released by Eurostat on November 6 show that the chemical industry is not only an important industrial area of European Union but also an indispensable part of EU’s foreign trade. EU chemical exports reached 499 billion euros in 2016, ranking the first in the world. United States ranked second with 389 billion euros and China ranked third with 258 billion euros. The United States, Switzerland and China are the three major EU chemical trade partners. The total export ratio of the three countries was 27%, 10% and 7%, respectively. The import ratio of the three countries was 31%, 21%, and 6%. EU chemical trade is long-term surplus, the surplus is increased from 76 billion euros in 2007 to 128 billion euros in 2016, annual increase of 6%.
Price of chemical raw materials and products industry rises
The price of China’s chemical raw materials and products industry rose by 10.1% in November. China National Bureau of Statistics released on December 9, industrial producer price index data for November 2017 shown that PPI rose by 0.5% MoM and 5.8% YoY. The purchase price of industrial producers rose by 0.6% MoM and 7.1% YoY. Among them, the prices of chemical raw materials and chemicals rose by 10.1% MoM to 1.4% YoY.
Industrial producer ex-factory price inflation fall
From the point of MoM, PPI (Producer Price Index) inflation is 0.2 per cent less than last mouth. The price of production materials rose 0.6%, down 0.3 percentage points from last month, and the price of life materials rose by 0.1%, the same as that of last month. See from the main industry, the increase in oil and gas mining, black metal smelting and calendering industry, up 6.2% and 0.5%, respectively. Oil processing industry, chemical raw materials and chemical products manufacturing industry, non-metallic mineral products industry rose 1.9%, 1.4% and 1.3% respectively, the gains fell back. The papermaking and paper industry is down by 0.2%. The coal mining and washing industry is leveled up.
From the point of YoY, PPI’s rise was 1.1 percentage points lower than last month. The price of production materials rose 7.5%, 1.5 percentage points lower than that of last month; and the price of life material rose by 0.6%, 0.2 percentage points lower than that of last month. Among the major sectors, the oil and gas exploration industry expanded by an increase of 20.3%, an increase of 3.8 percentage points from the previous month. The rise fell by black metal smelting and calendering processing industry, up 23.9%, down 6.9 percentage points than last month. Non-ferrous metal smelting and rolling processing industry, up 14.4%, down 5.6 percentage points. Oil processing industry, up 13.8%, down 1.7 percentage points. Coal mining and washing industry, up 8.6%, down 11.1 percentage points. The above five major industries combined impact PPI rose about 3.27 percentage points, accounting for 56.4% of the total increase.
It is estimated that in the year-on-year increase of 5.8% in November, tail-raising factor in price changes last year was about 1.7 percentage point and the new price hikes were about 4.1 percentage point.
On average, from January to November, the ex factory price of industrial producers rose by 6.4% YoY and the purchase price of industrial producers rose by 8.3% YoY.