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China's September commodity price index rises 4.1% month on month
In short
China's commodity price index stood at 137.6 points in September, up 4.1% from August and 22.9% from a year earlier, the China Federation of Logistics and Purchasing (CFLP) said on Oct 5. Prices rose for 38 of the 50 commodities the federation monitors, with methanol, ethylene glycol and coke leading at 39.5%, 24.8% and 20.4%. China News Service said the reading was a four-and-a-half-year high; a CFLP official said external input risks remain high and faster raw-material price rises are not passing through smoothly to downstream firms.
Why it matters
The CFLP described the September reading as a further improvement in commodity market conditions that lays a good foundation for fourth-quarter economic performance, according to the documents. A CFLP official also warned that higher input costs are squeezing companies and that monitoring, risk prevention and stable energy and resource supply are still needed.
Key facts
- The CFLP published its September China commodity price index on Oct 5, 2026. [ 1 , 2 , 3 , 4 , 5 ]
- The index was 137.6 points, up 4.1% month on month and 22.9% year on year. [ 1 , 2 , 4 , 5 ]
- Prices rose month on month for 38 of the 50 commodities monitored by the CFLP. [ 1 , 2 , 4 , 5 ]
- Methanol rose 39.5%, ethylene glycol 24.8% and coke 20.4% month on month, the largest gains. [ 1 , 2 , 4 , 5 ]
- The energy price index rose 14.8% and the chemicals index 13.7% month on month. [ 4 , 5 ]
- Nonferrous, ferrous and mineral price indices rose 1.6%, 0.5% and 0.3% month on month respectively. [ 5 ]
- China News Service reported the index reached a four-and-a-half-year high. [ 5 ]
Confirmed by several sources
- The September commodity price index was 137.6 points, up 4.1% month on month and 22.9% year on year, according to the CFLP. [ 1 , 2 , 4 , 5 ]
- 38 of the 50 monitored commodities rose in price month on month. [ 1 , 2 , 4 , 5 ]
- Methanol, ethylene glycol and coke posted the largest month-on-month increases, at 39.5%, 24.8% and 20.4%. [ 1 , 2 , 4 , 5 ]
- The CFLP attributed the improvement to the traditional production and construction peak season, faster implementation of major projects, and better manufacturing output and market demand. [ 1 , 2 , 3 , 4 , 5 ]
- Energy and chemicals price indices rose sharply, by 14.8% and 13.7% month on month. [ 4 , 5 ]
- Nonferrous, ferrous and mineral price indices also rose month on month. [ 4 , 5 ]
Still unclear
- Whether the September index was a four-and-a-half-year high. Only China News Service, an official outlet, states this; the other documents report the index level and changes without the record comparison.
- The precise month-on-month changes for the nonferrous, ferrous and mineral indices (1.6%, 0.5% and 0.3%). These figures appear only in the China News Service report; Jiemian says the three categories rose but gives no numbers.
- How far the rise in raw-material prices will feed into downstream prices and consumer costs. China News Service quotes a CFLP official saying pass-through to downstream is not smooth and company operating pressure has increased, but the documents give no quantification of downstream effects.
- The identity and affiliation of the “expert” cited by 36Kr. 36Kr attributes the comment to CCTV News without naming the person; China News Service separately names CFLP vice chairman Zhou Xu with similar remarks.
What local media are saying
Business mediaBusiness outlets CLS, Yicai and Jiemian led with the identical index release, carrying the headline number, the month-on-month and year-on-year changes and the top three gainers. Jiemian added the sector breakdown, citing higher international crude prices, tight supply and rising production costs for the energy and chemicals increases.
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Technology media36Kr reproduced the same CFLP release but framed it through expert commentary carried from CCTV News, emphasising both demand-side support and cost-push from international prices and tight supply, and listing monitoring, risk prevention, stable energy and resource supply and upstream-downstream risk-sharing mechanisms as necessary steps.
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Official sourcesChina News Service, in a Beijing-datelined report, gave the fullest account: it added the four-and-a-half-year high, the exact nonferrous, ferrous and mineral index changes, and on-the-record comments from CFLP commodity market circulation branch vice chairman Zhou Xu warning of high external input risks, rapid raw-material price rises, weak pass-through and increased pressure on companies.
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Timeline, local time
- CLS publishes the CFLP September commodity price index figures. [ 1 ]
- Yicai reports the same index figures. [ 2 ]
- 36Kr publishes the release together with expert commentary from CCTV News. [ 3 ]
- Jiemian adds the sector breakdown for energy, chemicals, nonferrous, ferrous and minerals. [ 4 ]
- China News Service reports the index reached a four-and-a-half-year high and quotes CFLP official Zhou Xu. [ 5 ]