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China's Basic Commodities Index Hits 4.5-Year High
The Basic Commodity Price Index in China reached its highest level in four and a half years in September, standing at 137.6 points, representing a 4.1% increase month-on-month and a 22.9% rise year-on-year. The increase was driven by higher prices in 38 out of 50 essential commodities, most notably methanol, ethylene glycol, and coke, which rose by 39.5%, 24.8%, and 20.4%, respectively. Energy and chemical prices also saw significant increases due to rising oil prices and reduced supply, amid improving demand and challenges in supply stability, putting additional pressure on industrial operations in China.
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