China's bulk commodity market continues to grow in May

A huge vessel with four gantry cranes docks at a wharf of the Zhoushan port. [Photo by Yao Feng/For China Daily]

BEIJING - China's bulk commodity market continued to grow in May with stable expansion in supply and sales, industrial data showed.

The China Bulk Merchandise Index (CBMI), a gauge of domestic bulk commodity market growth, stood at 103.3 percent in May, down by 1.5 percentage points compared with April, according to the China Federation of Logistics and Purchasing (CFLP).

This marked the third consecutive month of CBMI growth, pointing to an improving business environment in the bulk commodity sector.

The sub-index for bulk commodity supply expanded at a bigger margin while that for sales expanded slower in May compared with the previous month.

The sub-index for stocks continued to drop in May.

The CFLP pointed out that the slower CBMI growth in May, with a pickup in supply expansion but a slowdown in sales growth, indicated market adjustment pressure.