The index tracking China's bulk commodity prices stood at 115.4 in April, a month-on-month increase of three percent, according to data released by the China Federation of Logistics and Purchasing (CFLP) on Sunday.
The increase was 2.4 percentage points higher than that of March.
In terms of industries, the price indexes for both non-ferrous and chemical products continued to rise, with the non-ferrous price index notably up by 6.6 percent compared to March. The sharp growth is largely attributed to a recovery in global manufacturing activities and the tight supply of raw materials such as copper ore.
Among the 50 key types of products monitored by the federation, 21 saw price rise on a monthly basis. The top three products reporting the highest price increases are refined tin, praseodymium-neodymium oxides and electrolytic copper, with a month-on-month increase of 12.5 percent, 9.5 percent, and 8.6 percent, respectively.
A person in charge of CFLP's commodity trading market circulation association said the bulk commodity price index has risen for two consecutive months as of April and the increase has expanded, indicating the sound recovery momentum of China's economic activities and rebounding confidence amongst companies. On the other hand, as some industries face insufficient demand and there are challenges in destocking work, more efforts are needed for the circulation industry to promote production and consumption.