The China Federation of Logistics and Purchasing announced the China Commodity Index for October on November 5. Data show that the growth rate of commodity supply continues to accelerate.
China’s commodity index in October was 102.8%, down 0.8 percentage points from the previous month. Among the sub-indexes, the supply index and inventory index both increased, while the sales index declined. Among them, in October, the bulk commodity supply index continued to rise, and the increase increased. The commodity supply index in October was 103.9%, an increase of 0.5 percentage points from the previous month. The index rose to a recent high for the third consecutive time. Experts said that the continued increase in the supply of bulk commodities is mainly due to the fact that the overall market demand is still in the growth period, and manufacturing companies have good expectations for the market outlook and have high enthusiasm for production.
Judging from the changes in the sales index, it reflects that the current market demand is weakening in expansion, mainly due to the high base effect brought about by the continuous rebound in the past few months. However, the analysis believes that domestic demand is driven by various policies to stabilize investment and promote consumption. There is still a basis for steady growth.
Among the major commodities, the supply of iron ore, coal, non-ferrous metals and automobiles continues to grow, and the growth rate is accelerating; although the supply of steel and chemicals has increased, the growth rate has slowed down. Specifically, the supply of iron ore, coal, non-ferrous metals and automobiles in October increased by 4.7%, 7.1%, 6.7% and 6.5% respectively from the previous month, and the growth rates accelerated by 3.0, 2.3, 1.9 and 1.9 points respectively from the previous month. percentage point.
Judging from the inventory situation of major commodities, the inventory of steel and iron ore continues to decrease, while the inventory of other varieties continues to increase, and the growth rate is accelerating.
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