Tango-Tiger

The China National Statistical Office (NBS) reported today. The May Manufacturing Purchasing Managers Index (PMI) stood at 51, down from 51.1 in April, hurt by the fastest spike in raw material costs in more than 10 years.

However, the PMI สล็อตเอ็กซ์โอ above 50 indicates that China's manufacturing sector is still expanding. An index below 50 indicates a contraction.


The NBS report indicated that the new lot export orders index for May was at 48.3, down from 50.4 in April, while the raw material cost index was at 72.8 in November. The July rose from 66.9 in April, with the May raw material cost index being the highest in more than 10 years.


Commodity prices in China have surged sharply this year. This includes coal, iron, iron ore and copper, as the economy recovered after the COVID-19 epidemic. As a result, demand for commodities has increased.


The surge in commodity prices in China has raised concerns for the government. The China Development and Reform Commission (NDRC) issued a statement that The Chinese government will take severe penalties against those who violate trading regulations in commodities. The measure aims to block the heat of commodity prices.


The NDRC statement said the Chinese government would not tolerate manipulative behavior in both the spot and futures markets. It will also punish people who spread false news, trade for speculation. And hoard goods


The NDRC also said Chinese authorities will keep a close eye on commodity price trends. It will also strengthen the application of regulations in both the spot and futures markets. And the government will take heavier penalties on those who violate regulations