CCTV News: The China Federation of Logistics and Procurement announced the China Commodity Price Index for February on March 5. Judging from the index operation, as enterprises' production recovered rapidly after the Spring Festival and downstream consumption rebounded, the index rose month-on-month and better than previous years' levels, the bulk market has recovered steadily.
In February, China's commodity price index was 112.6 points, up 1.3% month-on-month. Among the 50 commodities that the China Federation of Logistics and Procurement focused on monitoring, 25 commodities had risen month-on-month in February. Among them, the top three varieties with the increase were soybean meal, caustic soda and neodymium oxide, up 18.7%, 8.3% and 7.1% respectively from the previous month.
By industry, agricultural products, nonferrous metals, black and chemical prices have risen. Among them, the agricultural product price index rose by 3.5% month-on-month, and rose by 2 consecutive months, indicating that the growth momentum of the consumer market is relatively strong. The black price index stopped falling and stabilized, and the steel market generally operated smoothly.
The analysis believes that the positive development of manufacturing and the acceleration of infrastructure investment have driven the rise in steel demand and supported steel prices. In addition, the non-ferrous metals price index stopped falling and rebounded, up 2% month-on-month and 9.5% year-on-year.
