China’s June bulk commodity price index falls 1.7% m/m to 130.3

China's June bulk commodity price index fell 1.7% m/m to 130.3, signaling softer near-term domestic demand and/or temporarily looser supply conditions. While the index remains up 17.6% y/y, the monthly decline is typically negative for China-cycle sensitive commodities, particularly industrial metals and related complex inputs. The data may weigh on short-term risk appetite across the broader commodities complex.