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BackChina's commodity price index rose 4.1% month-on-month in September, hitting a four-and-a-half-year high
China's commodity price index rose 4.1% month-on-month in September, hitting a four-and-a-half-year high
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中国新闻网1 hour agoBusiness2 min readChinaView original

China's commodity price index rose 4.1% month-on-month in September, hitting a four-and-a-half-year high

commodity price indexChina Federation of Logistics and Purchasingenergy prices

Quick Look

  • Data from the China Federation of Logistics and Purchasing show that China’s bulk commodity price index in September was 137.6 points, up 4.1% month-on-month and 22.9% year-on-year, hitting a four-and-a-half-year high.
  • The energy and chemical price indexes were among the top increasers, rising 14.8% and 13.7% month-on-month respectively.
  • Methanol, ethylene glycol and coke saw the largest increases.

AI-generated summary

Why It Matters

The China Federation of Logistics and Purchasing regularly releases a commodity price index, reflecting the overall price trend of the domestic commodity market. September is the traditional peak season for production and construction, and manufacturing and construction demand usually improves.

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China News Service, Beijing, October 5 (Reporter Ruan Yulin) Data released by the China Federation of Logistics and Purchasing on the 5th showed that in September, China's bulk commodity price index was 137.6 points, up 4.1% month-on-month and 22.9% year-on-year, hitting a four-and-a-half-year high.

Looking at commodities, among the 50 commodities monitored by the China Federation of Logistics and Purchasing, 38 commodities saw price increases month-on-month. Among them, methanol, ethylene glycol and coke were the top increasers, with month-on-month increases of 39.5%, 24.8% and 20.4% respectively.

In terms of industries, affected by factors such as rising international crude oil prices, tight supply of some products, and rising production costs, the energy and chemical price indexes rose sharply, rising by 14.8% and 13.7% month-on-month respectively. With the traditional peak season of production and construction, industrial transformation and upgrading accelerating, and demand for manufacturing and construction improving, the non-ferrous, ferrous and mineral price indices increased by 1.6%, 0.5% and 0.3% month-on-month respectively.

Zhou Xu, vice president of the Commodity Trading Market Circulation Branch of the China Federation of Logistics and Purchasing, said that in September, China’s commodity price index rose significantly. This was supported by the arrival of the traditional peak production season and improved domestic and foreign market demand, as well as the cost push caused by price disturbances in the international market and tight supply of some commodities. At present, external imported risks are still high, and the prices of raw materials in some industries are rising rapidly, which is not transmitted smoothly to downstream, and the pressure on enterprises' production and operation has increased.

Zhou Xu said that to consolidate the foundation for the stable and good operation of the commodity market, it is still necessary to strengthen the operation monitoring and risk prevention of key commodity markets, stabilize the supply of important energy resources, accelerate the establishment of risk-sharing and benefit-sharing organizational models and new interest linkage mechanisms upstream and downstream of the industrial chain, enhance the ability to identify and resolve risks, and further release the endogenous power of economic growth. (over)

What to Watch

AI outlook — possibilities, not facts

  • The commodity price index will remain volatile and strong in the short term

    Likely · Within weeks

  • The energy and chemical sectors may continue to outperform other varieties in terms of gains

    Possible · Within months

Open Questions

  • How will subsequent commodity prices be affected by the pace of global economic recovery?
  • Can downstream companies effectively pass on rising raw material costs to end products?
  • Will new measures be introduced at the policy level to deal with the risk of commodity price fluctuations?

Related Topics

commodity price index
PeopleZhou XuRuan Yulin
OrganizationsChina Federation of Logistics and PurchasingChina News Service
PlacesBeijingChina
TopicsChina Federation of Logistics and Purchasingenergy pricesChemical pricesMethanolEthylene glycolcoke
This article was originally published by 中国新闻网.

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