china's commodity market experienced periodic fluctuations in august
2024-09-05
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china news service, beijing, september 5 (reporter ruan yulin) data released by the china federation of logistics and purchasing on the 5th showed that china's commodity price index (cbpi) was 110.3 points in august, a month-on-month decrease of 3.6% and a year-on-year decrease of 4.6%.
judging from the index operation, the cbpi in august was affected by factors such as global hot and rainy weather, the off-season for some industries, and violent fluctuations in the financial market, and the seasonal periodic fluctuations in the bulk market were obvious.
by industry, the ferrous metal price index continued to fall, closing at 79.4 points, down 5.9% month-on-month and 13.3% year-on-year; the nonferrous metal price index gave up its gains, closing at 122.6 points, down 3.8% month-on-month and up 1.6% year-on-year; the chemical price index continued to pull back, closing at 114.4 points, down 3.4% month-on-month and 0.5% year-on-year; the energy price index widened its decline, closing at 107.7 points, down 3.6% month-on-month and 8.7% year-on-year; the mineral price index fluctuated downward, closing at 80.7 points, down 2.4% month-on-month and 7.3% year-on-year; the agricultural product price index fluctuated at a low level, closing at 95.7 points, down 0.7% month-on-month and 21.9% year-on-year.
judging from the trends of domestic and international commodity indices, the pressure on corporate production costs has eased. at the same time, the increased possibility of the federal reserve's interest rate cut also supports commodity prices. it is expected that the market's downward space will be limited, but problems such as insufficient effective demand and heavy operating pressure on enterprises are still relatively prominent. the role of the circulation industry in guiding production and promoting consumption still needs to be further exerted.
analysts said that as the peak production and construction season of september and october begins, and various macro-control policies are implemented, market demand is expected to gradually pick up. (end)
