China Commodity Supply and Demand Boomed in June

Published: Jul 7, 2023 16:39

Save

The China Federation of Logistics and Purchasing announced on July 5 that China's commodity index has risen for two consecutive months, showing that as the domestic economy maintained a recovery and development trend, the demand for commodities continued to recover.

Business activities such as procurement and production were active. In June, both supply and demand in the domestic commodity market were strong". The China Commodity Index was 102.8% in June, up 2.1 percentage points from May.

The commodity supply index rose to 107% in June, an increase of 1.8 percentage points from the previous month.

With the mild recovery of domestic economy, demand recovery and improved profit, producers was enthusiastic in production, growing supply.

More popular news:

SMM Daily Comments (Jul 3): SHFE Base Metals Rose across the Board with Tin Surging, Ferrous Metals Prices Closed Mixed

China Vows To Increase Macro-Control Efforts, Expand Consumption And Stabilise Investment

Macro economy

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

17 mins ago

Alma Metals Expands Copper Resources at Queensland's Briggs Project, Aiming for 3-4 Million Tonnes

Alma Metals (ASX: ALM) holds 2 million tonnes of copper resources at its Briggs Copper Project in Queensland, making it the largest undeveloped copper project in the state. The company plans to increase the resource estimate to 3 to 4 million tonnes through future drilling campaigns and leverage the surrounding well-established infrastructure to advance the completion of a Pre-Feasibility Study.

17 mins ago

21 mins ago

Taseko announces first cathode harvest at Florence Copper

Taseko Mines' Florence Copper project in Arizona has successfully produced its first copper cathodes, marking the first new copper production from a greenfield facility in the U.S. since 2008. The project employs a globally pioneering in-situ copper recovery technology and is expected to produce 85 million pounds of LME Grade A copper annually, making it the third-largest copper producer in the country. All copper produced will be supplied to the U.S. domestic market, supporting supply chain security for key sectors such as automotive, semiconductors, and defense.

21 mins ago

23 mins ago

Elemental Royalty highlights production milestone at Chapi Copper Project

Elemental Royalty Corporation (NASDAQ: ELE) has taken note of the announcement by Quilla Resources Inc. regarding the successful production of first copper cathode at the Chapi Copper Project in southern Peru. Elemental holds a 2.0% net smelter return royalty on the project and expects to receive its first royalty payment from Chapi in the first quarter of 2026. Company CEO David M. Cole stated that Quilla has rapidly advanced the project since acquiring the brownfield asset, completing technical refurbishment and operational planning on schedule and within budget. Production is now ramping up toward an initial nameplate capacity of approximately 10,000 tonnes of copper cathode per year, with this swift progress underscoring the project's value and potential.

23 mins ago