China News Agency, Beijing, December 5 (Reporter Ruan Yulin) According to data released by the China Federation of Logistics and Purchasing on the 5th, the China Bulk Commodity Index (CBMI) was 100.2% in November, down 1.1 percentage points from the previous month, falling to nearly seven lowest point in the month.
The data shows that both the supply and demand sides of the domestic bulk commodity market have slowed down significantly, and the signs of oversupply in the market have become more prominent.
Among the sub-indices, in November, the commodity supply index was 101.1%, falling to a low point in nearly six months.
Since November, due to the frequent outbreaks of the epidemic and the decline in off-season demand, especially as commodity prices continue to soften, the profit margins of production companies have been continuously compressed, resulting in an overall slowdown in the growth rate of domestic bulk commodity production, and some orders have been postponed. The growth rate of commodity supply continued to fall.
Market demand has weakened significantly.
In November, the bulk commodity sales index was 99.0%, a decrease of 2.2 percentage points from the previous month, falling to the lowest point in nearly 12 months, showing that the domestic bulk commodity market sales have dropped significantly.
Judging from the situation of major commodities, the sales of iron and steel, iron ore, refined oil and automobiles have dropped significantly, but the demand for coal has been boosted by seasonal factors, and the sales volume has stabilized and rebounded.
In November, the commodity inventory index was 101.3%, rising for two consecutive months, indicating that due to the traditional low season of demand, commodity supply is difficult to be quickly digested, and it has begun to enter the storage link in the form of inventory, and the pressure on market inventory has increased.
According to the analysis, looking forward to December, with the rapid drop in temperature in various places, the pressure on the demand side is still relatively high. In the short term, due to the impact of frequent outbreaks of the epidemic, the macroeconomic operation pressure is relatively high, and the domestic commodity market is still under relatively large downward pressure. However, as the country's increasingly loose policy orientation and the effect of stabilizing investment policies gradually emerge, it is expected that the downward space of commodity prices will be limited.