China’s June bulk commodity market expands to five-month high

China’s bulk commodity market continued to grow in June with stable expansion in supply and stocks, Xinhua reports quoting industrial data.

The China Bulk Merchandise Index (CBMI), a gauge of domestic bulk commodity market growth, stood at 101.5 percent in June, up 0.2 percentage points compared with May and reaching a five-month high, according to the China Federation of Logistics and Purchasing.

This marked the second consecutive month of CBMI growth after the figure rose above the boom-or-bust line of 100 percent in May, pointing to steady economic recovery from the impact of COVID-19 outbreaks.

The sub-indices for bulk commodity supply and inventory expanded in June compared with the previous month, while the sub-index for sales dipped.

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