China's road logistics price index up for 3rd consecutive month

23 Oct '23

1 min read

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Insights

Improvements in both the demand and supply sides led to MoM rise in China's road logistics price index for the third consecutive month in September.
At 102.9, it was up by 0.36 per cent from the August figure.
The road transport market is likely to maintain sound recovery and the freight price index is likely to fluctuate and rebound in the fourth quarter.

Improvements in both the demand and supply sides of the market led to China's road logistics price index witnessing a month-on-month (MoM) rise for the third consecutive month in September this year, according to a survey.

At 102.9 last month, the index was up by 0.36 per cent from the August figure, the survey, jointly conducted by the China Federation of Logistics and Purchasing and the Guangdong Lin'an Logistics Group, found.

The figure for full-truckload logistics, which mainly measures bulk commodity and cross-regional transportation, was up by 0.36 per cent to 103.1. The sub-indices for all types of vehicles saw mild MoM rises, a state-controlled news outlet reported.

Market demand continued to pick up in September as China's economic recovery gained stronger momentum. The supply side also continued to recover as the vitality of market players increased and extreme weather dissipated, the survey said.

The road transport market is expected to maintain sound recovery and the freight price index is likely to fluctuate and rebound in the fourth quarter, the peak production and construction season, the survey projected.

Fibre2Fashion News Desk (DS)

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