企业供给能力继续回升，多项指数涨幅扩大。2025年12月份电商消费市场表现平稳，企业供给能力储备 充足，效率进一步提高。物流时效、履约率、满意率和实载率指数分别回升1.3点、1.4点、0.5点和0.7 点。 库存周转率指数小幅回升，人员指数环比持平，成本指数有所回落。2025年12月份，企业进一步消化 2025年11月份囤积库存，库存周转率环比回升0.2点。在供给效率上升的背景下，人员指数与11月份持 平，企业用工效率有所提升。成本指数环比下降0.4点，实现连续7个月下降。 1月9日，中国物流与采购联合会和京东集团联合发布数据显示，2025年12月份中国电商物流指数为 113.6点，比2025年11月份回升0.5点。 中国物流信息中心副总经济师胡焓对《证券日报》记者表示，2025年12月份电商物流指数继续回升，从 供需两端来看，2025年12月份总指数上升主要由供给端带动，需求端保持高位相对平稳。 具体来看，电商物流总业务量指数保持较高水平。2025年12月份，电商物流总业务量指数为132.3点， 比11月份回落0.1点。分地区来看，西部地区和东北部地区总业务量指数有所回升。东部和中部地区电 商物流总业务量指 ...

中新社北京1月9日电 (记者 阮煜琳)中国物流与采购联合会9日发布数据显示，2025年12月，中国电商物 流指数为113.6点，较上月回升0.5点。 (责任编辑：李春晖) 2025年12月，中国电商物流指数继续回升，从供需两端来看，总指数上升主要由供给端带动，需求端保 持高位相对平稳。从需求端看，去年下半年促销活动常态化，"双十二"购物对需求刺激效应降低，消费 者购物趋于理性，从品类上看，冬季防护、体育用品、节日主题礼品、派对用品、时尚配饰等品类销量 保持较快增长。从供给端看，需求端延续上月增长态势，物流实效、履约率指数、满意率指数和实载率 指数不仅环比回升，且涨幅有所扩大。 分析称，从全年数据看，2025年中国电商物流走势为"九升两降一平"，除在一、二月有所下滑外，其余 月份基本呈现上升态势。据预计，随着春节假期临近，今年年初中国电商物流指数将呈现稳中趋缓态 势。 分项指数中，农村业务量指数、库存周转率指数、物流时效指数、履约率指数、满意度指数、实载率指 数环比上升，总业务量指数、成本指数有所下降，人员指数与上月持平。 2025年12月，电商物流总业务量指数为132.3点，比上月回落0.1点，仍保持较高水平 ...

来源：上海有色网 金属市场： 截至日间收盘，内盘基本金属普跌，仅沪铝唯一上涨，涨幅达1.42%。沪镍以2.67%的跌幅领跌，其余 金属跌幅均在1%以内。氧化铝主连跌1.35%，铸造铝主连涨0.72%。 此外，碳酸锂主连涨0.01%，工业硅主连跌0.17%，多晶硅主连继续下挫，跌8.11%。欧线集运主连涨 0.3%报1729.8。 黑色系方面多飘绿，不锈钢涨0.25%，螺纹、热卷一同跌超1%，螺纹跌1.1%，热卷跌1.02%。双焦方 面，焦煤跌0.71%，焦炭跌1.83%。 外盘方面，截至15：03分，外盘基本金属集体上涨，伦锡涨1.84%，伦镍涨1.72%，伦铜涨1.17%，伦铝 涨1.16%。其余金属涨幅均在1%以内。 贵金属方面，截至15:03分，COMEX黄金涨0.53%，COMEX白银涨2.69%。国内方面，沪金涨0.68%， 沪银跌0.9%。 此外，铂主连涨1.11%，钯主连涨6.01%。 | 初始 代码 | | 名称 | ●求 | 腰折 | 沃幅% | 涨跌 | 总量 | 现量 | 买入价 | 美出价 | | --- | --- | --- | --- | --- | --- | --- | -- ...

人民财讯1月9日电，中国物流与采购联合会消息，中国物流与采购联合会和京东集团联合发布的2025年 12月份中国电商物流指数为113.6点，与上月回升0.5点。分项指数中，农村业务量指数、库存周转率指 数、物流时效指数、履约率指数、满意度指数、实载率指数环比上升，总业务量指数、成本指数有所下 降，人员指数与上月持平。 ...

电商物流农村业务量指数明显回落。11月份，农村电商物流业务量指数为130.4点，比上月回落2.6点。 分地区来看，除东北地区环比回升1.3点外，其他地区均有所回落。 企业供给能力储备充足，服务质量稳步提升。从各平台数据来看，11月双十一订单高峰较往年平缓，以 此同时电商快递企业加大运力储备和配送网络畅通，效率不断提升。物流时效、履约率、满意度和实载 率指数分别回升0.6、0.5、0.3和0.2点。 电商物流总业务量指数回落。11月份，电商物流总业务量指数为132.4点，比上月回落0.5点。分地区来 看，四大地区总业务量指数均有所回落，西部地区电商物流总业务量指数回落0.8点，回落幅度最大。 库存周转率指数环比上升，成本指数有所回落。11月，库存周转率指数环比回升0.3点。成本指数环比 回落0.1点，实现连续6个月回落，降本措施效应继续显现。 据中国物流与采购联合会12月10日消息，中国物流与采购联合会和京东集团(09618)联合发布的2025年 11月份中国电商物流指数为113.1点，与上月持平。分项指数中，库存周转率指数、物流时效指数、履 约率指数、满意度指数、实载率指数环比上升，总业务量指数、农村业务量指 ...

Core Insights - The China E-commerce Logistics Index for October 2025 is reported at 113.1 points, reflecting a month-on-month increase of 0.4 points, indicating a recovery in the logistics sector [1][2] - The total business volume index for e-commerce logistics reached a new high of 132.9 points, with all four major regions showing an upward trend [1][2] - The rural e-commerce logistics business volume index also increased, reaching 133.0 points, with notable growth in the northeastern region [1][2] Business Volume and Regional Performance - The total business volume index for e-commerce logistics increased by 0.4 points in October, with the western region showing the highest growth of 0.8 points [1][2] - The rural business volume index rose by 0.3 points, with the northeastern region experiencing the most significant increase of 1.9 points [1][2] Service Quality and Supply Capacity - Companies are enhancing service capabilities, as indicated by increases in logistics timeliness index, satisfaction index, and personnel index by 0.2, 0.3, and 0.3 points respectively [1][2] - The fulfillment rate index remained stable above 100 points, while the cost index decreased by 0.2 points, marking five consecutive months of decline [2] Demand and Supply Dynamics - E-commerce consumption remains strong, with the State Post Bureau reporting 7.23 billion express packages during the holiday period [2] - Companies are responding to seasonal demand by increasing collection points, cold chain warehouses, optimizing delivery routes, and enhancing air transport resources [2] Future Outlook - The logistics indices are expected to continue their upward trend with upcoming promotional activities like Double Eleven [2]

Group 1: Economic Indicators - The core Consumer Price Index (CPI) has increased for the fifth consecutive month, with a year-on-year rise of 1% in September, marking the first time in 19 months that the increase has returned to 1% [2] - The narrow gap between narrow money (M1) and broad money (M2) has shrunk to 1.2 percentage points, the lowest this year, indicating improved business activity and personal investment demand [3] - The logistics industry has maintained a positive outlook, with the logistics industry prosperity index at 51.2% in September, reflecting a continuous demand for logistics services [4] Group 2: Consumer Demand and Spending - The rise in core CPI suggests accelerated consumer demand, particularly in quality and upgraded consumption, with notable price increases in sectors such as arts and crafts (14.7%), sports equipment (4%), and nutritional foods (1.8%) [2] - E-commerce logistics have shown strong demand, with the e-commerce logistics index reaching a new high of 112.7 points in September, driven by seasonal consumption and holiday factors [5][6] - The overall consumer market remains stable, with policies aimed at expanding domestic demand and promoting consumption showing positive effects [2] Group 3: Financial Sector and Lending - Corporate loans have shown a positive growth trend, particularly in key sectors like equipment manufacturing and high-tech manufacturing, with a year-on-year increase of 8.2% in medium to long-term loans for the manufacturing sector [3] - Personal credit demand has rebounded, supported by lower interest costs and adjustments in housing purchase policies in major cities, leading to a 7% year-on-year increase in housing transaction volume in September [3] - Financial mechanisms are expected to play a crucial role in stimulating effective demand in the real economy through interest rate adjustments and coordinated market rates [3]

Core Insights - In September, China's e-commerce logistics index reached 112.7 points, marking a month-on-month increase of 0.4 points and setting a new record for the year [1] - The index reflects a robust supply and demand dynamic in the e-commerce logistics sector, with various sub-indices showing positive trends [1] Supply and Demand Analysis - The total business volume index, rural business volume index, personnel index, logistics timeliness index, fulfillment rate index, satisfaction index, and inventory turnover rate index all increased [1] - The supply willingness and capability of e-commerce logistics companies remained strong, with all metrics staying above 100 points [1] - The inventory turnover rate index rebounded month-on-month, indicating improved sales conditions for companies [1] Factors Influencing Demand - The increase in demand was driven by multiple factors, including the upcoming Mid-Autumn Festival and National Day holidays, seasonal consumption changes, and heightened online shopping enthusiasm [1] - E-commerce logistics companies are enhancing their capacity and service quality to meet the rising demand [1] Future Outlook - The upcoming double holiday period is expected to further boost e-commerce logistics demand, while the "Double Eleven" shopping festival is anticipated to provide additional benefits [2] - The e-commerce logistics index is projected to remain stable in October [2]

Core Insights - The China Logistics and Purchasing Federation reported that the e-commerce logistics index for September reached 112.7 points, an increase of 0.4 points from the previous month, marking a new high for the year [1] - E-commerce logistics is characterized by strong supply and demand, with both the total business volume index and rural business volume index hitting year-to-date highs in September [1] - The surge in online consumption is driven by the preparation for the National Day and Mid-Autumn Festival holidays, along with seasonal consumption needs, leading to high sales in automotive products, holiday gifts, and travel gear [1] - E-commerce logistics companies are enhancing capacity, technology, and service quality to support the robust online consumption [1] - The cost index for logistics has been continuously declining, reaching the lowest level of 2023 in September [1]

Core Insights - The China E-commerce Logistics Index for September 2025 reached 112.7 points, marking a month-on-month increase of 0.4 points and setting a new high for the year [1] - The total business volume index for e-commerce logistics hit a record high of 132.5 points, with a month-on-month increase of 1.1 points [2] - The rural e-commerce logistics business volume index also saw a significant rise, reaching 132.7 points, up 1.0 points month-on-month [2] Supply and Demand Dynamics - The logistics efficiency index, fulfillment rate index, satisfaction index, and personnel index all showed improvements, indicating a robust supply-side development [1][2] - The inventory turnover rate index rebounded by 0.1 points, while the actual load rate index remained stable, indicating effective utilization of supply capabilities [2] - The cost index decreased by 0.2 points, marking a continuous decline for four months [2] Seasonal and Market Trends - The increase in demand is attributed to various factors, including the upcoming Mid-Autumn Festival and National Day holidays, which have spurred consumer spending [2] - Popular online consumption categories included mooncakes, cultural products, and travel-related items, reflecting a growing trend in autumn consumption [2] - E-commerce logistics companies are enhancing their capabilities through increased transport capacity, improved technology, and better services to meet rising consumer demand [2][3] Future Outlook - The logistics indices are expected to remain stable in October, supported by the upcoming holiday season and promotional activities for the Double Eleven shopping festival [3]