China IoT: China's Commodity Price Index (CBPI) was 137.0 points in October, up 21.0% year on year
The Zhitong Finance App learned that on November 5, the China Commodity Price Index (CBPI) for October 2026 released by the China Federation of Logistics and Purchasing was 137.0 points, down 0.5% month-on-month and 21.0% year-on-year, according to a joint survey by the China IoT Commodity Distribution Branch and Shanghai Steel Federation.
Judging from the performance of the index, due to external import factors such as the continuous repetition of the situation in the Middle East and increased fluctuations in international financial markets, as well as various factors such as the rapid rise in raw material prices in some industries and poor transmission of production costs to the downstream, the index declined slightly from month to month, maintained a large year-on-year increase, and the overall operation of the commodity market was stable. Currently, the risk of external imports is still high, the pressure on raw material costs in some industries has not been relieved, enterprises still face certain difficulties in production and operation, and market demand in different industries is also divided. To maintain the smooth operation of the commodity market, it is still necessary to step up macro-control efforts, further expand effective demand, stabilize the supply of important energy resources, and strengthen market monitoring and risk prevention.
By industry: the chemical price index continued to rise, at 143.4 points, up 4.9% month-on-month and 48.0%; the mineral price index rose slightly, at 67.9 points, up 1.9% month-on-month, down 4.3%; the increase in the energy price index narrowed to 132.0 points, up 1.0% month-on-month, up 36.4%; the black price index declined slightly, to 79.6 points, down 1.3% month-on-month; the non-ferrous price index showed a slight correction of 164.4 points, down 1.6% year on year 20.5% ; The agricultural product price index declined slightly to 93.7 points, down 2.0% month-on-month and 1.2% year-on-year.
By commodity: Among the 50 commodities monitored by the China Federation of Logistics and Purchasing, compared with the previous month, the prices of 27 commodities (54%) fell, the prices of 22 commodities (44%) rose, and the price of 1 (2%) commodity remained flat. The top three commodities that rose this month were paraxylene, polypropylene, and fuel oil, which rose 11.4%, 7.6%, and 7.2% month-on-month respectively; the top three declines were lithium carbonate, ethylene glycol, and coking coal, which fell 23.2%, 17.4%, and 7.9%, respectively.
Comparing domestic and foreign indices: Last month's PPI and CPI were basically in line with CBPI trends. PPI rose 1.2% month-on-month in September; among them, the price of means of production rose 1.4% month-on-month, and the price of means of living rose 0.1% month-on-month. In September, CPI rose 0.2% month-on-month; among them, food prices rose 0.4% month-on-month and non-food prices rose 0.2% month-on-month. CBPI is in line with S&PGSCI trends and is somewhat differentiated from CRB. The Middle East conflict continued in October, international crude oil prices rose, and global energy supply and transportation risks were still high. At the same time, changes in international interest rate expectations and the trend of the US dollar have increased price fluctuations in the global metals market. The Food and Agriculture Organization of the United Nations and the World Bank warned that blocked transportation in the Black Sea and rising prices of El Niño and energy fertilizers could increase risks in the global food market.
