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With war looming in Iraq, China's supply of oil products is likely to be tight in the first half of this year, predicted the State Economic and Trade Commission (SETC).
However, the recent release from the SETC, reported Friday by the China Business Times, also shows that in the January-June period, the supply of most commodities will exceed demand.
Among 600 major commodities selected by the SETC, 513 items, or 85.5 percent, face the problem of oversupply. The most severe situation will occur in the sector of products used in agricultural production, as 32 items on the list will all suffer from not enough demand.
The release also noted that on the bright side, with price cuts on passenger cars and supportive policies in car consumption, the automobile market will see a balance in supply and demand.
Meanwhile, the supply of steel and iron products will meet demand and oversupply in the electronic appliances market will be improved to some extent.
(Xinhua News Agency February 22, 2003)
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