China's bulk commodity market rebounds in December

2022-January-6 09:19 By: Xinhua

Aerial photo taken on Dec. 18, 2021 shows a container ship by the Pacific international container terminal at the Tianjin Port of north China's Tianjin Municipality. (Xinhua/Zhao Zishuo)

BEIJING, Jan. 5 (Xinhua) -- China's bulk commodity market rebounded in December, as supplies and stockpiles picked up during the period, industrial data shows.

The China Bulk Merchandise Index, a gauge of domestic bulk commodity market activities, came in at 100.9 percent last month, slightly above the boom-bust line of 100 percent and marking the highest level in six months, according to the China Federation of Logistics and Purchasing.

The federation attributed the growth to increasing supplies, with the bulk commodity supply sub-index rebounding to an eight-month high of 102 percent in December.

The sub-index measuring sales continued to stagnate, coming in at 99.9 percent last month as seasonal factors and sporadic resurgences of COVID-19 combined to suppress demand.

The data shows strong supply and weak demand in the bulk commodity market, which means room for a price retreat, the federation predicted. ■

Editor: ZAD
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