China Commodity Price Index Rises 4.1% MoM in September

The breadth of the move matters more than the headline: gains in 38 of 50 monitored commodities point to a broad input-cost push rather than an isolated spike in one complex. Methanol, ethylene glycol and coke leading suggests energy and petrochemical chains are doing the heavy lifting, which feeds into manufacturing and construction costs. For RWA and commodity-linked markets, the question worth watching is whether this sequential momentum persists into the next print or proves a one-month base effect against the strong year-on-year comparison.