China’s PPI remained at a week -2.3% YoY in January, unchanged from December 2024 and below expectations of a -2.1% YoY reading.

• Monthly rates were weak across the board with production PPI down -0.2% MoM and consumer goods PPI flat.
• Producer prices were weak across industries as well with the largest declines in ferrous metal prices (-0.3% MoM) and agricultural prices (-0.4% MoM).