China sees prices of 21 major capital goods decline

China saw 21 major capital goods monitored by the government post lower prices in the last 10 days of April compared with the 10 days before them, data showed.

Of the 50 goods monitored by the National Bureau of Statistics (NBS), including seamless steel tubes, gasoline, coal, fertilizer and chemicals, 21 goods saw their prices drop during the period, with 23 posting rising prices and six with unchanged prices, according to the NBS.

Specifically, non-metal building materials and capital goods for agriculture saw an overall decline in prices, while prices of ferrous metals and farm produce increased in general.

Peanuts, caustic soda and liquefied petroleum gas led the rising trend, while methanol and polyester filament seeing notable price drops.

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