波罗的海干散货 (BalticDry) 加自选

商务部周日表示，中国已暂停批准向美国出口与镓、锗、锑和超硬材料有关的“两用物品”的禁令。该部在一份声明中表示，暂停立即生效，并将持续到2026年11月27日。该禁令最初于2024年12月宣布。该部还暂停了对向美国出口两用石墨的更严格的最终用户和最终用途检查，这些检查是在最初的禁令中引入的。周五，中国宣布暂停10月9日实施的额外出口管制，包括扩大对某些稀土材料和锂电池组件的限制。

China has suspended its ban on approving exports of “dual-use items” related to gallium, germanium, antimony, and super-hard materials to the United States, the Commerce Ministry said on Sunday. The suspension takes effect immediately and will remain in place until November 27, 2026, the ministry said in a statement. The ban was originally announced in December 2024. The ministry also suspended stricter end-user and end-use checks for exports of dual-use graphite to the United States, which were introduced alongside the original ban. On Friday, China announced the suspension of additional export controls imposed on October 9, including expanded curbs on certain rare earth materials and lithium battery components.

2025年10月，中国生产者价格指数同比下降2.1%，较上月2.3%的跌幅略有放缓，这是自2024年8月以来的最温和跌幅，但已连续第37个月出现收缩。结果略好于市场预期的2.2%的跌幅。

China’s producer prices declined 2.1% year-on-year in October 2025, slowing slightly from a 2.3% decline in the previous month and marking the softest drop since August 2024, though extending their contraction for the 37th consecutive month. The result came in slightly better than market expectations of a 2.2% fall.

2025年10月，中国食品价格同比下跌2.9%，较上月4.4%的跌幅有所缓解，为7月以来的最小跌幅。尽管有所放缓，但这是连续第九个月下降。新鲜蔬菜（-7.3%对-13.7%，9月份）、鸡蛋（-11.6%对-11.9%）、食用油（-1.1%对-1.4%）、乳制品（-1.7%对-14.4%）和新鲜水果（-2.0%对-4.2%）的价格下跌幅度较小。猪肉是主要主食，其价格也以略慢的速度下跌（-16.0%对-17.0%），因为尽管黄金周假期需求略有复苏，但充足的供应和较低的饲料成本使价格疲软。

China’s food prices fell 2.9% year-on-year in October 2025, easing from a 4.4% drop in the previous month and marking the smallest decline since July. Despite the moderation, it was the ninth consecutive monthly decrease. Prices declined at softer rates for fresh vegetables (-7.3% vs -13.7% in September), eggs (-11.6% vs -11.9%), cooking oils (-1.1% vs -1.4%), dairy products (-1.7% vs -1.4%), and fresh fruit (-2.0% vs -4.2%). Pork prices, a key staple, also dropped at a slightly slower pace (-16.0% vs -17.0%), as abundant supply and lower feed costs kept prices weak despite a modest demand recovery during the Golden Week holidays.

2025年10月，中国消费者价格指数同比上涨0.2%，超出了保持不变的预期，并从上月0.3%的跌幅反弹。这标志着自6月以来消费者通胀首次上升。这是自1月以来的最快速度。非食品类通胀加速（9月份为0.9%对0.7%），这得益于消费者贸易计划的扩大和黄金周假期支出的增加，这两者都有助于提振国内需求。多个类别的价格上涨，包括住房（0.1%对0.1%）、服装（1.7%对1.7%）、医疗保健（1.4%对1.1%）和教育（0.9%对0.8%）。与此同时，运输成本下降速度较慢（-1.5%对-2.0%）。在食品方面，价格录得三个月来最小跌幅（-2.9%对-4.4%）。按月计算，消费者价格指数在9月份上涨0.1%后，也上涨了0.2%，达到三个月来的最高水平。

China’s consumer prices rose 0.2% yoy in October 2025, defying expectations for no change and rebounding from a 0.3% decline in the prior month. It marked the first increase in consumer inflation since June. and the fastest pace since January. Non-food inflation accelerated (0.9% vs 0.7% in September), supported by the expansion of consumer trade-in programs and increased holiday spending during the Golden Week, both of which helped boost domestic demand. Price gains were seen across several categories, including housing (0.1% vs 0.1%), clothing (1.7% vs 1.7%), healthcare (1.4% vs 1.1%), and education (0.9% vs 0.8%). Meanwhile, transport costs fell at a slower pace (-1.5% vs -2.0%). On the food side, prices recorded the smallest decline in three months (-2.9% vs -4.4%). On a monthly basis, consumer prices also increased 0.2%, following a 0.1% gain in September, reaching the highest level in three months.