In the first quarter of 2024, China's producer price index (PPI) for the ferrous metal smelting and rolling sector experienced a 5.0 percent year-on-year decline, as reported by the National Bureau of Statistics (NBS).

In March alone, the PPI for this sector decreased by 7.2 percent year on year and 1.2 percent month on month. The overall PPI for China decreased by 2.8 percent year on year in March and edged down by 0.1 percent month on month. Chinese industrial producers' purchase prices also declined by 3.5 percent year on year and 0.1 percent compared to February. In the January-March period, China's overall PPI declined by 2.7 percent year on year, while Chinese industrial producers' purchase prices decreased by 3.4 percent year on year