中国磷化工月报

Welcome to CCM International's new issue of Phosphorus Industry China Monthly Report in August 2012.

In July, China's macroeconomy continues to maintain downtrend. Most macroeconomic data from China hits the low record this month, including CPI (1.8% of year-on-year growth, the lowest from Feb. 2010), PPI (a negative growth for five months in 2012), the growth in total industrial added value (9.2% of year-on-year growth, slower pace month on month and the lowest from May 2009), gross export value (1% of year-on-year growth, the lowest in recent six months), and new loan (the lowest from Oct. 2011).

Nonetheless, the current downward macroeconomy in China is not the prime reason for the falling prices of most phosphorus products in July. In short term, China's downward macroeconomy will not spread to the local phosphorus chemical industry, while its long-term downturn may curb the consumption.

Average exchange rate in July 2012, USD:RMB=1:6.32