The index tracking China's bulk commodity prices stood at 113.4 in October, up 3 percent month on month, according to data released by the China Federation of Logistics and Purchasing (CFLP) on Tuesday.
The prices of ferrous metals, non-ferrous metals, minerals, chemicals and energy all rose last month, indicating positive changes in the economy, higher demands in the market, and greater economic vitality in the country, said the CFLP.
Among the 50 key types of products monitored by the CFLP, 35 saw price increases on a monthly basis, with coke, cold rolled coil and hot rolled coil topping the list.
As the country continues to roll out incremental policies, market expectations have been significantly boosted, leading to increases in orders at steel plants and surges in domestic steel prices.
Data show that the prices of cold rolled coil and hot rolled coil rose by 13.3 percent and 12.4 percent month on month, respectively.
Experts expect the positive momentum to be sustained in the fourth quarter, as demands rebound, the bulk commodity market gains vitality, and the implementation of various policies speeds up.
"On the one hand, the existing policies are taking effects, which will be unleashed gradually. On the other hand, some incremental policies have been adopted, so I think they can generate continuous forces to boost the economy," said Wang Jingwen, director of the Macroeconomic Research Center of the Research Institute of China Minsheng Bank.
China's bulk commodity price index edges up 3 pct in Oct
