ID :
212520
Thu, 10/13/2011 - 06:46
Auther :
Shortlink :
https://oananews.org//node/212520
The shortlink copeid
Import prices of raw materials drop in Sept.
SEOUL (Yonhap) - South Korea's import prices of key raw materials dropped for the second straight month in September on a steady decline of non-ferrous metal prices, a trade association said Thursday.
The Korea Importers Association (KOIMA) said its price index for imported commodities stood at 389.2, down 4.12 points or 1.05 percent from the previous month.
The index fell in August after a 10-month rising streak. Using 1995 as the base year, the benchmark index covers 56 key imported raw materials, ranging from corn and soybeans to crude oil and aluminum scraps.
KOIMA attributed the decline in September to a continued slide in prices of non-ferrous metals, such as copper scraps whose price dropped 16.76 percent from a month earlier on dwindling global demand in the wake of a global economic slowdown.
Prices of aluminum scraps and corn also dropped 11.28 percent and 9.44 percent, respectively, from a month earlier, it said.
"Raw material prices are continuing to fall amid shrinking global demands and disappearing investments due to a global economic slowdown," the association said in a press release. "Global prices of raw materials are again expected to weaken in October."
Apparently helped by falling import prices, the country's consumer price hike slowed to a 4.3 percent rise from a year earlier compared with a 5.3 percent increase in August, the largest jump in three years.
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The Korea Importers Association (KOIMA) said its price index for imported commodities stood at 389.2, down 4.12 points or 1.05 percent from the previous month.
The index fell in August after a 10-month rising streak. Using 1995 as the base year, the benchmark index covers 56 key imported raw materials, ranging from corn and soybeans to crude oil and aluminum scraps.
KOIMA attributed the decline in September to a continued slide in prices of non-ferrous metals, such as copper scraps whose price dropped 16.76 percent from a month earlier on dwindling global demand in the wake of a global economic slowdown.
Prices of aluminum scraps and corn also dropped 11.28 percent and 9.44 percent, respectively, from a month earlier, it said.
"Raw material prices are continuing to fall amid shrinking global demands and disappearing investments due to a global economic slowdown," the association said in a press release. "Global prices of raw materials are again expected to weaken in October."
Apparently helped by falling import prices, the country's consumer price hike slowed to a 4.3 percent rise from a year earlier compared with a 5.3 percent increase in August, the largest jump in three years.
)
