China’s Commodity Price Index Sees Accelerated Growth in April
In a recent announcement by the China Federation of Logistics and Purchasing, the China Commodity Price Index in April showed a significant increase of 3% from the previous month. This marks the second consecutive month of growth, with the increase expanding by 2.4 percentage points compared to March.
The overall index for April stood at 115.4 points, with the non-ferrous and chemical price index leading the way with continued upward trends. Non-ferrous prices, in particular, saw a sharp increase of 6.6% month-on-month. Analysts attribute this surge to a global manufacturing rebound and tight supply of raw materials such as copper ore.
Of the 50 commodities monitored by the federation, prices for 21 commodities rose compared to the previous month. Refined tin, praseodymium and neodymium oxide, and electrolytic copper were among the top three products with the highest price increases, jumping by 12.5%, 9.5%, and 8.6% respectively.
This significant uptick in commodity prices reflects a broader trend in the global market, as demand for raw materials continues to rise. As the world economy recovers from the impact of the pandemic, analysts predict that commodity prices may continue to climb in the coming months.
Investors and industry experts will be closely monitoring these developments to assess potential impacts on supply chains and consumer prices. Stay tuned for further updates on China’s commodity market as the situation unfolds.