- Friday July 01,2022
As of 11:30 a.m. (GMT+8) Jul 1, Chinese coking coal futures dropped 5.04%, coke decreased 2.48%, thermal coal dipped 1.04%, while iron ore down 4.8%.
Most countries in the world have achieved positive growth in energy consumption in 2021, with China, the U.S., India, Russia, Japan, Canada, Germany, South Korea, Brazil and Iran the top ten consumers. China's figure grew 7.1% YoY to 157.65 EJ, taking 26.5% of the world's total, according to the latest BP report.
China mainland has transmitted 304.3 TWh of electricity to Hong Kong through China Southern Power Grid as of Jun 28, accounting for 1/4 of Hong Kong's total power usage, according to data from the company.
The tussle on profit distribution in coal, coke and steel industries could intensify in the short run, given current low coking coal stocks and weak profits at coke and steel makers, according to CICC. Despite lower-than-expected steel output cuts and current strong support for coking coal, the company expects a reversal to current strong coking coal and weak thermal coal markets in H2.
The key problem of current weak Chinese steel market lies in the demand side, but the solutions will be on the supply side, said He Wenbo, official with China Iron and Steel Association in a video meeting on Jun 29.
China's national observatory issued a Strong Wind Signal, No. 3 for tropical storm Chaba, with strong wind gusts expected to lash southern China over Jul 1-2.
Three miners were killed and two were injured in a roof collapse accident in Zhaojin coal mine in Tongchuan city, Shaanxi, at 11:30 a.m. Jun 30. The incident cause is still under investigation, and the mine has an approved production capacity at 1.8 Mtpa.
Poland's coal production totaled 9.14 Mt in May, up by 2% YoY and 1.7% MoM, showed data from the Central Statistical Office of Poland.
- Thursday June 30,2022
Liaoning in NE China is forecast to face a max power load of 37.5 GW in summer peak demand season of Jul-Aug, rising 2.5% YoY. Its max power supply capacity of reliable sources could reach 38.63 GW but the backup power supply capacity is less than 2 GW for emergencies.
Indian power utilities imported 5.25 Mt of thermal coal in May, surging 42.58% YoY and 19.36% MoM, the new high since Mar 2020, showed the latest data from the Central Electricity Authority (CEA).
As of 11:30 a.m. (GMT+8) Jun 30, Chinese coking coal futures dropped 3.67%, coke decreased 3.67%, thermal coal dipped 1.24%, while iron ore down 1.17%.
The Polish government is planning to temporarily
lift its ban on the worst-quality coal in the market for 60 days in response to the soaring
prices of the fuel and the supply shortfall after it banned Russian coal
imports amid the Russia-Ukraine conflicts.
Daily coal output of Henan province stood at 262,300 t in Jun, and its power coal stocks still in a safe and reasonable range, with the highest at 9.15 Mt in early Jun and stocks at 8.42 Mt on Jun 21, up 3.62 Mt YoY.
India's top one cement enterprise, Ultra Tech Cement, imported a cargo of Russian coal of 157,000 t from SUEK and paid in Chinese yuan, a scarce payment method that traders say might become more common in a special situation, according to an official customs document.
China's Vice Premier Han Zheng in a visit to Taiyuan of Shanxi on Jun 28 instructed to continue ensuring coal supply and stabilizing coal prices and meanwhile vigorously push ahead with clean and efficient utilization of coal to realize green and low-carbon development, state media reported on Jun 29.