China's factory deflation eased in July, driven by a rise in global oil prices and as industrial activity climbed back towards pre-coronavirus levels, adding to signs of recovery in the world's second-largest economy.
FILE PHOTO: A worker is seen at a hot rolling production line at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS/Damir Sagolj
The producer price index fell 2.4% from a year earlier in July, the National Bureau of Statistics said in a statement, compared with a 2.5% decline tipped in a Reuters poll of analysts and a 3.0% drop in June. Iron ore futures prices in Dalian have rallied over 50% so far this year while prices of steel bars used in construction have jumped 12%.[IRONORE/]
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