BEIJING, Nov. 10 (Xinhua) — China’s bulk commodity market rebounded in October with stable expansion in sales, supply and stocks.
The China Bulk Merchandise Index, a gauge of domestic bulk commodity market growth, stood above the boom-or-bust line of 100 percent at 101.3 percent in October, up 1.2 percentage points from September, according to the China Federation of Logistics and Purchasing (CFLP).
This is the second month of climb and the index hit a six-month-high.
The uptick indicates rebound of the bulk commodity sector, though the growth pace is slower compared with the same period last year, the CFLP said.
The sub-indices for bulk commodity sales, supply and stocks picked up in October, while the sub-indices for prices dropped.
The industry is expected to improve as domestic commodity demand is picking up, the CFLP forecast.