MOC monitors raw material prices

MOC monitors raw material prices

China's Ministry of Commerce (MOC) began conducting a survey on the prices of 300 kinds of products. The ministry hopes that the survey will allow it to better understand the supply and demand situation in the country. The ministry intends to pass the results along to the government, which can then take necessary actions in order to eliminate further fluctuations in prices. The survey covers mainly raw materials such as steel, coke, coal, construction materials, non-ferrous metals, oil and chemical products. The survey will be conducted over the next six months. Within the survey, the price trends of the materials will be classified as “upward, flat or downward”. The supply and demand situation will be related with the prices and indicated as “supply surplus, balance, supply deficit”.