China's Bulk Commodity Market Growth Slows in June – Xinhua

BEIJING, July 7 (Xinhua) – The Chinese bulk commodity market continued to grow at a slower pace in June, with supply and sales contracting, according to industry data.

The China Bulk Merchandise Index (CBMI), an indicator of growth in the bulk commodities market, surpbaded the 100% rise and fall line to reach 100.8% in June. down 0.3 point from May, according to China Federation of Logistics and Purchasing (CFLP).

This marked the third consecutive month of decline in CBMI, indicating weak activity during the break.

The sub-indices of supply and sales of bulk commodities grew more slowly in June compared to the previous month, while the equity sub-index advanced more rapidly.

The CFLP predicted that the downward trend in the domestic bulk market will not continue as previous growth-enhancing policies would lead to increased demand.