China’s bulk commodity market saw improving fundamentals in August with a marked increase in sales as demand rebounded, industrial data showed.
The China Bulk Merchandise Index (CBMI), a gauge of domestic bulk commodity market growth, stood at 102.3 percent for August, up 1 percentage point compared with July, according to the China Federation of Logistics and Purchasing.
A reading above 100 indicates expansion, while a reading below reflects contraction. The August CBMI reading is the highest since May 2021.
The sub-indices for bulk commodity supply and inventory eased compared with the previous month, while the sub-index for sales climbed.
The federation expected that the country’s demand for bulk commodities would rise in September as construction off-season ends.
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Originally published by Xinhua