中国大宗商品价格指数连续七个月环比回升

Core Viewpoint - The China Commodity Price Index (CBPI) has shown a continuous month-on-month increase for seven consecutive months, indicating a stable and improving trend in the commodity market, supported by government policies aimed at boosting consumption and stabilizing growth [1][2]. Group 1: Index Performance - In November 2025, the CBPI reached 114.1 points, reflecting a month-on-month increase of 0.8% and a year-on-year increase of 1.6% [1]. - The continuous rise in the CBPI over the past seven months is better than the same period last year, suggesting improved supply-demand dynamics across various industries [1]. Group 2: Sector Analysis - The non-ferrous metals price index continued to rise, while the energy price index rebounded from previous declines. The agricultural products price index saw a slight increase, and the mineral price index continued to recover. The black series price index experienced a reduced decline, whereas the chemical price index continued to decline [1]. - Among the 50 monitored commodities, 25 saw price increases and 25 experienced price declines in November. The top three commodities with the highest price increases were lithium carbonate (up 15%), coke (up 7.2%), and corrugated paper (up 7.1%). The top three commodities with the largest price declines were methanol (down 8.3%), glass (down 7.1%), and palm oil (down 6%) [1]. Group 3: Market Outlook - Overall, the commodity market in China is experiencing a recovery, which lays a solid foundation for a stable economic conclusion at the end of the year. However, the international situation remains complex, and structural issues in certain industries, such as chemicals, are still prominent. There is a need for increased policy support to further unleash domestic demand potential [2].