According to the survey and release of the China Federation of Logistics and Purchasing, the China Bulk Commodity Index (CBMI) in May 2023 was 100.7%, an increase of 0.4 percentage points from the previous month.
The supply of goods continues to increase. In May 2023, the bulk commodity supply index was still on the rise, at 102.1%, an increase of 1.6 percentage points from the previous month. The supply is still growing, but in the context of sluggish demand, the supply side has low expectations for the market outlook, so the supply growth is limited. From the perspective of major commodities, except for the decline in the supply of steel this month, the rest of the varieties have shown a growth trend, especially the supply of iron ore has rebounded. The supply of iron ore this month increased by 2.7% compared with the previous month; the supply of coal, refined oil and chemicals increased by 5.9%, 4.4% and 2.6% respectively compared with the previous month, and the growth rate was 1.3, 2.0 and 0.9 percentage points higher than that of the previous month. The supply of non-ferrous metals and chemicals increased by 2.0% and 0.8% respectively from the previous month, and the growth rate slowed down by 0.3 and 0.8 percentage points respectively from the previous month; this month, due to the increase in the number of enterprises reducing production due to maintenance, the overall production capacity of the steel industry in the early stage was insufficient, resulting in supply It continued to decline, but with the gradual recovery of profits and the increasing enthusiasm of enterprises for production, the decline in supply this month has narrowed. This month's steel supply decreased by 0.7% compared with last month, and the decline narrowed by 0.6 percentage points compared with last month.
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