China’s commodity price index rose 21% year-on-year in October

China News Service, Beijing, November 5th. Data released by the China Federation of Logistics and Purchasing on the 5th showed that in October, China’s bulk commodity price index was 137.0 points, down 0.5% month-on-month and up 21% year-on-year. The overall market operation was stable.

Among the 50 commodities monitored by the China Federation of Logistics and Purchasing, 22 commodities saw price increases month-on-month in October. Among them, paraxylene, polypropylene and fuel oil were the top increasers, with month-on-month increases of 11.4%, 7.6% and 7.2% respectively.

In terms of industries, affected by factors such as rising international crude oil prices, tight supply of some petrochemical raw materials, and rising production costs, the chemical industry and energy price index continued to rise, rising by 4.9% and 1% month-on-month respectively; affected by factors such as the resumption of construction projects in some areas, off-peak production of cement companies, and phased reductions in the supply of some products, the mineral price index increased by 1.9% month-on-month.

Zhou Xu, vice president of the Commodity Trading Market Circulation Branch of the China Federation of Logistics and Purchasing, said that in October, China's commodity market generally operated stably and showed good resilience in the face of external shocks. At present, international energy supply and transportation risks are still high, raw material cost pressures in some industries have not yet been relieved, and enterprises still face certain difficulties in production and operation. To consolidate the foundation for the smooth operation of the commodity market, it is still necessary to increase macroeconomic policy adjustments, further expand effective demand, stabilize the supply of important energy resources, and strengthen key market operation monitoring and risk prevention.