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MOC to monitor prices of 300 products
Updated: 2005-06-24 09:28

The Chinese Ministry of Commerce has started a market survey on the supply and demand of more than 300 kinds of products, Shanghai Securities News reported Thursday.

The survey is designed to monitor the price fluctuations of major means of production such as non-ferrous metals, construction materials, steel, coal, coke, finished oil, diesel oil and chemicals for six months, said the article.

The survey outcome will be used as the first-hand references for the ministry to establish a market alert mechanism on raw materials.

The article acknowledged that the trend of price fluctuations will be classified into three categories, namely "upward, flat and downward", while the supply and demand status will also be defined as three kinds, namely "oversupply, insufficient supply and balance".

To make the survey results as accurate as possible, the Ministry of Commerce will take full consideration of the influence from both domestic and world markets, the production cycle of different products and other factors like inventory, technical innovation and transportation, said the newspaper.

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