Wednesday, 29 Feb 2012
According to the China Electricity Council, China coal demand will reach 4.3 billion tons by 2015 an increase of 970 million tons compared to the year 2010 and an annual increase of 5.2%.
An expert told the paper that as the cost of coal supply and labor increases and the coal resource tax rises, China may see higher coal prices and shortage in supply during the 12th Five-Year Plan period.
The paper cited an official with the Ministry of Industry and Information Technology that resource shortages may affect the nation economic development.
In 2011, China consumed 3.7 billion tons of coal with domestic coal output of 3.52 billion tons and imports of 170 million tons. The amount was almost half of the world's total coal consumption.
(Sourced from Shanghai Securities News)
Showing posts with label domestic coking coal consumption. Show all posts
Showing posts with label domestic coking coal consumption. Show all posts
Wednesday, February 29, 2012
Friday, March 4, 2011
MIIT: Chinese mills need to be more self-sufficient in coking coal supplies
Mar04,2011
As outlined in a statement issued by China's Ministry of Industry and Information Technology (MIIT), in 2009 and 2010 China's imported coking coal volumes increased sharply, reaching 34.4 million mt and 47.27 million mt respectively, and accounting for seven percent and eight percent respectively of total domestic coking coal consumption. Accordingly, China has became a net importer of coking coal from a net exporter of the product.
The MIIT went on to say that in 2011, because of the floods in Australia, the leading international exporter of coking coal, and due to the continuous recovery of the world's iron and steel industry, a situation of insufficient supply and increased demand has developed, with coking coal prices thus continuing to rise. Currently, the spot price of coking coal in the international market has exceeded the historical record of $300/mt; meanwhile, the average price of second grade metallurgical coke in China's domestic market is RMB 2,050/mt, up by RMB 155/mt compared with the price in January.
The MIIT stated that domestic coking coal resources are almost able to meet the needs of China's iron and steel industry, though resources of high-quality coking coal are insufficient. The MIIT concluded by stating that Chinese steel enterprises should focus on increasing their self-sufficiency in coking coal supplies.
The MIIT went on to say that in 2011, because of the floods in Australia, the leading international exporter of coking coal, and due to the continuous recovery of the world's iron and steel industry, a situation of insufficient supply and increased demand has developed, with coking coal prices thus continuing to rise. Currently, the spot price of coking coal in the international market has exceeded the historical record of $300/mt; meanwhile, the average price of second grade metallurgical coke in China's domestic market is RMB 2,050/mt, up by RMB 155/mt compared with the price in January.
The MIIT stated that domestic coking coal resources are almost able to meet the needs of China's iron and steel industry, though resources of high-quality coking coal are insufficient. The MIIT concluded by stating that Chinese steel enterprises should focus on increasing their self-sufficiency in coking coal supplies.
Tags: coking coal , raw mat , China , Far East , production , consumption , steelmaking , trading , mining , East Asia and Pacific , Met Coke
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