Chinanews.com, December 12 According to the website of the China Federation of Logistics and Purchasing, the China Commodity Index (CBMI) in November 5 surveyed and released by the China Federation of Logistics and Purchasing was 2023.11%, down 101.3 percentage points from the previous month.
The picture is from the website of the China Federation of Logistics and Purchasing
Among the sub-indexes, the supply index and sales index continued to fall, and the inventory index rose for two consecutive months and rose to the highest point in nearly nine months. Judging from the changes in the index in November, the index fell for two consecutive months, and the off-season characteristics of the commodity market appeared. However, judging from the changes in the sales index, although it has fallen, it is still in the expansion range, indicating that domestic demand still has a stable foundation under the implementation of various policies to stabilize investment and promote consumption.
The growth rate of commodity supply has slowed. In November 2023, the commodity supply index ended its previous streak and showed a pullback, falling 11.2 percentage points from the previous month to 8.101%, the lowest point in nearly seven months.
Sales growth continues to slow. In November 2023, the commodity sales index fell by 11.1 percentage points from the previous month to 5.101%, showing a pullback for two consecutive months, indicating that the domestic commodity market demand has entered the off-season, and although the sales volume continues to rise, the growth rate continues to slow down.
Commodity inventories kept picking up. In November 2023, the commodity inventory index rebounded by 11.0 percentage points from the previous month to 7.101%, rising to the highest point in nearly nine months for two consecutive months, indicating that as demand entered the traditional off-season, the supply of commodities was difficult to be quickly digested, and began to enter the warehousing link in the form of inventory, and the pressure on market inventory increased.
Entering December, with the rapid decrease in temperature, downstream construction will be restricted, especially in the northern region, the scope of shutdown will be expanded, demand will still be affected to a certain extent, the contradiction between market supply and demand will be intensified in stages, and inventory pressure will also increase. However, in the context of the macroeconomic recovery, the continuous support of policy benefits, and the decline in supply expectations, the bottom support of the commodity market is relatively strong, and the overall price decline is limited.