【财经分析】5月中国大宗商品价格指数环比上涨 化工价格指数止跌反弹

Core Insights - The May 2023 China Commodity Price Index (CCPI) stands at 110.3 points, reflecting a month-on-month increase of 0.3% but a year-on-year decrease of 7.2% [1][3] - The index indicates a stabilization trend in commodity prices, with specific sectors showing varied performance, such as a slight increase in non-ferrous metal prices and a rebound in chemical prices [1][6] Price Index Summary - The non-ferrous price index rose to 127.7 points, up 0.9% month-on-month but down 5.2% year-on-year [3][4] - The agricultural product price index increased to 98.2 points, with a month-on-month rise of 0.5% and a year-on-year increase of 2% [3][4] - The chemical price index rebounded to 102.8 points, up 0.5% month-on-month but down 13.7% year-on-year [3][4] - The black metal price index fell to 78.7 points, down 0.8% month-on-month and down 11.4% year-on-year [3][4] - The energy price index decreased to 96.3 points, down 2.1% month-on-month and down 14.9% year-on-year [3][4] - The mineral price index dropped to 75.6 points, down 2.2% month-on-month and down 8.3% year-on-year [3][4] Commodity Price Movements - Among 50 monitored commodities, 32 (64%) saw price declines while 17 (34%) experienced price increases [4][6] - The top three commodities with price increases were PTA (up 9.5%), ethylene glycol (up 4.6%), and corn (up 4.3%) [4][6] - The largest price declines were observed in industrial silicon (down 10.2%), lithium carbonate (down 10%), and soybean meal (down 9.9%) [4][6] Market Analysis - Analysts attribute the rise in non-ferrous prices to improved demand expectations due to easing US-China tariff policies [5][6] - The agricultural price index's increase is linked to stable downstream consumer demand, with corn prices rising due to increased market demand and short-term supply constraints [6][7] - The overall market sentiment remains cautious due to persistent external uncertainties and insufficient effective demand in certain sectors [1][7]