China's bulk commodity index rallies in June

BEIJING, July 9 (Xinhua) -- The index tracking the development of China's bulk commodity market rose for the second consecutive month in June, industry data shows.

The China Bulk Merchandise Index stood at 102.8 percent in June, up 2.1 percentage points compared with that registered in May, according to the China Federation of Logistics and Purchasing.

A reading above 100 indicates expansion, while a reading below 100 reflects contraction.

Sub-indices measuring bulk commodity supply and sales both rose from the previous month, while the sub-index for inventory declined.

In June, the demand-side rebound was stronger than the supply side, easing the pressure on market inventories, said the federation.

With the domestic economy sustaining the recovery trend and expectations strengthening for policies to stabilize growth, the commodity market expanded steadily, the federation said.