China's bulk commodity market sees improving demand in March

China's bulk commodity market saw improving fundamentals in March with a marked increase in sales as demand rebounded, industrial data showed.

The China Bulk Merchandise Index, a gauge of domestic bulk commodity market growth, rose to its highest level since August 2020, according to the China Federation of Logistics and Purchasing.

The index stood at 103.4 percent for March, up 0.6 percentage points compared with February.

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

The sub-indices for bulk commodity supply and sales went up compared with the previous month, while the sub-index for inventory went down.

The federation expected that the domestic commodity market will maintain a stable and positive trend with more room for commodity prices to climb in April.