China's bulk commodity index rises again
The index tracking the development of China's bulk commodity market rose for the second consecutive month in June, according to data released by the China Federation of Logistics and Purchasing (CFLP).
The China Bulk Merchandise Index stood at 110.8 percent in June, up 0.5 percent month on month, indicating continued improvement in corporate production and operational activities alongside steady market operations and signs of further progress in the commodity industry.
A reading above 100 indicates expansion, while a reading below 100 reflects contraction.
Among the 50 key types of products monitored by the federation, 17 saw prices rise on a monthly basis, the industry data shows.
The price index of chemical products continued to rise. Prices for energy rebounded after a decline, boosted by higher international crude oil prices and increased production costs for gasoline, diesel, and other products. Meanwhile, the agricultural product price index dipped slightly, mainly due to the rising temperatures and the seasonal decline in end-user demand, leading to mild price decrease for some categories.
Experts say that China's industrial production grew steadily in the second quarter, with robust demand in sectors such as industrial robotics, new energy vehicles, and high-tech manufacturing. Additionally, China's trade-in initiatives and strong growth in exports of electromechanical products have laid a solid foundation for stable expansion of the bulk commodity market in the second half of the year.
However, experts also noted that there are still many external uncertainties and unstable factors at present, and problems such as insufficient effective demand and disorderly competition in some industries remain to be addressed. Therefore, further efforts are needed to enhance the role of bulk commodity circulation in boosting domestic demand, stabilizing growth and promoting development to further stimulate market vitality and bolster the internal driving forces of economic growth.
