Steel prices dropped for the first time this year since January, according to data released by the People's Bank of China (PBC) on August 14.

The data also showed that the Enterprise Commodity Price has increased by 0.2 percent from last month and 2.5 percent from the same period last year. Agricultural product prices in July have increased by 0.3 percent from last month.

PBC calculates and releases the enterprise commodity price index (ECPI), which reflects the fluctuation in prices of investment products and consumer goods at spot sales. In conjunction with the consumer price index (CPI), the ECPI comprehensively shows the fluctuation trace of prices.

Statistics show that the price of non-ferrous metal rebounded and the general price of energy continued to rise in July.

By People's Daily Online