An index tracking the performance of China's commodities market declined in February this year, data from the China Federation of Logistics and Purchasing showed.

China's commodity index stood at 111.4 last month, down 0.7 percent from January this year. The drop in the index was attributed to a drop in demand during the Spring Festival holiday.

The effect of the government's counter-cyclical policy is gradually manifested, and the production activities of enterprises in the post-holiday period are gaining momentum. Therefore, the space for market price decline is expected to be limited and the positive trend of economic recovery with subsequent improvement is expected to be further strengthened, the federation said.