China's bulk commodity market continues to grow in April

Source: Xinhua| 2019-05-05 15:34:56|Editor: zh
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BEIJING, May 5 (Xinhua) -- China's bulk commodity market continued to grow in April with stable expansion in supply and sales, industrial data showed.

The China Bulk Merchandise Index (CBMI), a gauge of domestic bulk commodity market growth, stood above the boom-or-bust line of 100 percent to stand at 102.6 percent in April, down 0.9 percentage points compared with March, according to the China Federation of Logistics and Purchasing (CFLP).

This marked the second consecutive month of CBMI growth despite a slowdown in pace, pointing to stable market operation in the bulk commodity sector.

The sub-indices for bulk commodity supply and sales expanded slower in April compared with the previous month, while the sub-index for stocks dropped in April.

The CFLP predicted that the domestic bulk commodity market's stabilizing momentum might continue in May as previous pro-growth policies will keep driving up demand.

Commodity prices are expected to go on rising while the sector might face increasing downward pressure on export, the CFLP added.