China News Service, Beijing, June 5th. The China Federation of Logistics and Purchasing released on the 5th that the China Commodity Index (CBMI) for May 2021 was 100.2%, a decrease of 3.1 percentage points from the previous month. The index appeared after rising for three consecutive months. Significantly down.

The analysis believes that overall, the supply and demand fundamentals of the domestic bulk commodity market are still good.

　　Among the sub-indices, the supply index, the sales index, and the inventory index all declined, while the sales index fell sharply.

Judging from the changes in the index this month, the bilateral linkage between supply and demand has declined, which seems to indicate that the market will usher in the off-season ahead of schedule, and the operating pressure will begin to increase.

However, although the sales index has fallen sharply this month, the index level is still higher than the supply index, and the inventory index continues to decline. On the whole, the fundamentals of supply and demand in the domestic bulk commodity market are still good, supply and demand are still in equilibrium, and commodity inventories continue to decline.

　　Data show that in May, the commodity supply index fell by 2.1 percentage points from the previous month to 100.6%, and the index fell to the lowest level in the past five months.

From the perspective of major commodities, production profit is still an important factor affecting commodity supply. The supply of steel, non-ferrous metals and other commodities continued to grow this month, but coal, automobiles and other commodities are subject to factors such as raw material supply and reduced imports. There is a situation of reduced supply.

　　The analysis believes that looking forward to June, the market will enter the traditional off-season of consumption, and the fundamentals of supply and demand will usher in new changes: demand intensity across the country weakens seasonally; recently prices have gradually returned to rationality, and corporate production profits have been greatly compressed, and production has been suspended and reduced. Increased willingness, superimposed regional power shortages, environmental pressures, it is difficult for commodity production to continue to grow, and the pressure on the supply side will continue to be reduced in the later period.

　　On the whole, there are signs of further weakening at both ends of supply and demand in June, and the market will usher in a comprehensive test.

However, as prices return to reasonable levels, the market still has a supporting foundation in the short term.

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