Confidence index for China's commodity market has stayed below zero for four months in a row since June, according to monitoring by CDRC, a research centre on China's commodity market.
The commodity confidence index (CCI) for September stood at minus 0.18, compared to minus 0.38 for August. Lower crude oil and cotton prices in August shook the market confidence, especially when the crude price slumped to new low of 37 US dollars per barrel, said Liu Xintian, senior analyst with CDRC. Monitoring by PPI.COM showed prices of some 70 percent of the commodities dropped in August, at an average decline of 1.5 percent.
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