China's prices of raw materials dropped 1.27 percent in October on month and the contraction expanded 0.22 percentage point from September, according data from the China Federation of Logistics and Purchasing.
Moreover, the raw materials prices fell 16.54 percent in October from a year earlier, 0.46 percentage point larger than in the previous month.
Specifically, prices of product oil and building materials continued mild rising, automobile prices reversed the upward trend, and wood products prices stayed flat form the previous months.
Prices of nonferrous metals showed the biggest decline of three percentage points and kept monthly decrease for five straight months.
Analysts say considering the sluggish global manufacturing industry, expansion slowdown of manufacturing industry, little effect of the large-scale of monetary easing in the euro zone and three consecutive months of the producer price index contraction in China, the country's raw materials prices will likely to continue the downward trend.
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