- Thursday June 24,2021
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The most-actively traded coke futures on the Dalian Commodity Exchange rose as much as 3.8% to 2,836 yuan/t ($437.80/t) on June 24 , the highest since May 13. They closed up 2.2% at 2,790 yuan/t.
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China is expected to cut its coal use to 44% of energy consumption by 2030 and 8% by 2060, while increasing the use of natural gas in its primary energy mix to 12% in 2030 from 8.7% in 2020, said Zhu Xingshan, senior director, Planning Department CNPC at a conference on June 24.
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On June 23, square billet Q235 was offered
at 4,820 yuan/t in Tangshan, Hebei province, down 30 yuan/t from a day ago, 200
yuan/t from a week ago and 330 yuan/t from a month ago.
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China Coal Transportation and Distribution
Association held a meeting recently, saying coal producers are facing a greater
pressure for providing sufficient supply in the near future, which need more
efforts from the government. It also urged state-owned producers to accelerate
the release of advanced capacity.
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On June 22, Wuhai power grid operator expected
the peak load to appear in late July to early August, at 14.6 GW, possibly a
17.6% rise compared with the peak load a year ago.
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As of June 23, Fenwei assessed Quasi Grade
I coke prices at 2,800 yuan/t at Rizhao port, Shandong province, ex-stock with
VAT, up 50 yuan/t from a day ago and 150 yuan/t from a week ago. It was 120
yuan/t higher than a month ago, and 48.9% higher than the year-ago level.
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China's May power consumption increased
12.5% on the year, suggesting continuously upward trend for economic growth.
Hindered by rising costs amid high coal prices, coal-fired power producers had
to trim some generation to reduce losses, whereas hydro and nuclear units saw a
significant rise in capacity utilization, making them also the major force to
support power consumption.
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China's total power use in industrial sector rose 18.5% year on year during the first five months of 2021, with the year-on-year growth expanding significantly by 22.4 percentage points from the year-ago level, showed data from the National Energy Administration.
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A train loaded with 3,322 tonnes of coal in
50 wagons departed from Duolun, Xilingol of Inner Mongolia was discharged at
railway station of Jingtang port in Hebei, marking another join-up of main rail
lines between the coal-rich base to northern transfer ports following the connection
with Caofeidian port.
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Mongolia's coal exports declined 35.8% YoY but jumped 96.4% MoM to 1.40 Mt in May, adding the total exports in January-May to 8.88 Mt, rising 40.7% over the same period last year, according to Mongolian statistics data.
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Mongolia exported 3.37 Mt of iron ore in the first five months this year, down 2% on the year, accounting for 13.4% of Mongolia's total cargo exports, according to the customs data.
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Mongolia declared 2,213 new COVID-19 infections in the past 24 hours on June 23, sending the cumulative infections to 100,263 cases. It took only one month for Mongolia's total confirmed cases to climb up to 100,000 from 50,000.
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As a mining and energy giant in Shanxi with six subsidiaries, Jinneng Holding Group owns total assets of 1.14 trillion yuan ($175.4 billion), coal capacity of 440 Mt, power installed capacity of 38.14 GW, assets size of coal mining equipment manufacturing of 36.7 billion yuan.
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Inventory of five major steel products at
China's 20 cities climbed 3.8% from ten days ago to 11.22 Mt on
Jun 20, CISA data showed, marking
the first increase following nine straight sessions of decline from a peak of
17.77 Mt on Mar 10.
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Jinneng Holding Coal Industry Group has 440 Mt of coal capacity, 670 billion yuan ($103 billion) of total asset and 360,000 employees. It plans to extract 350 Mt of commercial coal and sell 550 Mt in 2021. By the end of 14th Five-Year Plan period (2021-25), its coal production is expected to reach 500 Mt, contributing 40 billion yuan of total profit and taxes.
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