According to the National Bureau of Statistics, in June 2023, the national industrial producer prices fell by 5.4% year-on-year and 0.8% month-on-month. The purchasing prices of industrial producers decreased by 6.5% year-on-year and 1.1% month-on-month. In the first half of this year, the prices of industrial producers went down by 3.1% compared with the same period last year, and the purchasing prices of industrial producers went down by 3.0%, of which the prices of raw materials industry went down by 6.6%, the prices of processing industry went down by 3.4%, the prices of chemical raw materials and chemical products manufacturing industry went down by 9.4%, and the prices of rubber and plastic products industry went down by 3.4%.
From the big point of view, the price of the processing industry and the price of the raw material industry continued to decline year-on-year, but the price of the raw material industry fell faster, and the difference between the two continued to rise, indicating that the processing industry continued to improve profits because the price of the raw material industry fell relatively fast. Further from the perspective of the sub-industry, the prices of synthetic materials and plastic products are also falling simultaneously, and the profits of plastic products continue to improve due to the accelerated decline in the prices of synthetic materials. From the point of view of the price cycle, as the price of upstream synthetic materials is further reduced, the profit of plastic products is further improved, which will drive the price of synthetic materials to rise, and the price of polyolefin raw materials will continue to improve with the downstream profit.