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China iron ore, steel steady after rapid rally

Source: www.chinamining.org         Citation: reuters.com      Date: February 16, 2017

Chinese iron ore and steel futures stabilized on Thursday after recent sharp gains that pushed the steelmaking raw material to a record high. 

Expectations of a pickup in construction activity and steel supply tightening in China, the world`s largest producer, have helped steel prices rally this year, fueling a rapid rise in iron ore markets.

The most-active rebar on the Shanghai Futures Exchange was up 0.6 percent at 3,432 yuan ($501) a tonne by 0303 GMT. The construction steel product reached a two-month high of 3,458 yuan on Wednesday. 

Iron ore on the Dalian Commodity Exchange was flat at 703 yuan per tonne, after peaking at 718 yuan in the prior session, matching its highest intraday level touched in October 2013, when the exchange launched iron ore futures. 

Rebar has gained 18 percent so far this year and iron ore has risen 27 percent. 

To improve air quality during the annual meeting of the National People`s Congress in early March, governments in Beijing, Tianjin and Hebei have released orders for steel mills to cap production from late February to early March, Chinese commodities firm Xiben New Line reported. 

The Beijing-Tianjin-Hebei region produced around 210 million tonnes of crude steel last year, or 26 percent of China`s total output, analysts at Morgan Stanley said in a note.

If half of steel production in the region is capped for 20 days, the decline in production could be 5.8 million tonnes, they said. 

"In this case, it may create short-term supply tightness and hence price reactions, as demand recovers starting from late February," they said. 

"(But) overall, we expect the potential impact to be short-lived." 

Iron ore for delivery to China`s Qingdao port dropped 0.7 percent to $91.05 a tonne on Wednesday, according to Metal Bulletin. 

It was the second straight day of decline for the spot benchmark after touching a 30-month peak of $92.23 on Monday. ($1 = 6.8577 Chinese yuan)

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

EU proposes extension of Chinese solar duties by 18 months

Source: www.chinamining.org         Citation: Xinhua      Date: February 09, 2017

BRUSSELS - The European Commission on Wednesday proposed an extension of import duties on solar panels from China by 18 months with a gradual phase-out, Commission Vice President Frans Timmermans said on Wednesday.

Timmermans told a news conference that the decision was made after taking into account the different interests at stake, including member state opinions. 

"Solar energy is essential for our environmental and climate goals, that is why the College today took the time for a careful and thorough weighing of the options," he said. 

"The phase-out is also meant to make sure that producers of solar panels in the European Union have the time to adapt to the new situation. The precise conditions are something that will be up for debate, also with member states now," Timmermans added. 

Those anti-dumping and anti-subsidy measures on Chinese solar products have been in place since 2013 and are currently under review as to whether they should be maintained. 

Eighteen of EU member states last month opposed a proposed two-year extension. 

This proposal will be sent to member states for further discussion and the case is expected to be settled in early March.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Coal production down 9.4% in 2016

Source: www.chinamining.org         Citation: Xinhua      Date: January 31 2017

Amid the country`s effort to build a greener energy system, the country`s raw coal production by its large-size coal companies continued to decline in 2016.

Combined raw coal production from the country`s designated large coal companies with annual turnover of at least 20 million yuan (about $2.9 million) stood at 3.36 billion tons in 2016, down 9.4 percent from 2015, latest data from the National Bureau of Statistics (NBS) showed. 

Raw coal production from those companies in December 2016 alone was 310 million tons, down 3 percent year on year, said the NBS. 

Coal is the main energy source in China, accounting for 64 percent of total energy consumption in 2015.

Cutting overcapacity in sectors including coal and steel is part of the country`s supply-side structural reform and high on the government agenda. 

The world`s largest coal producer and consumer will cut outdated coal capacity by 800 million tons per year by 2020, while increasing use of cleaner coal by 500 million tons each year, according to the coal industry 2016-2020 development plan.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China to cap coal consumption at 4.1 billion tons by 2020

Source: www.chinamining.org         Citation: Xinhua      Date: January 19, 2017

China aims to cap coal consumption at 4.1 billion metric tons by 2020 and use cleaner fuel. 

By 2020, the share of coal in the country`s energy mix should fall below 58 percent, said the energy sector`s five-year plan for 2016-2020, released by the National Development and Reform Commission and the National Energy Administration.

Coal accounted for 64 percent of primary energy in 2015. 

By 2020, China`s total energy consumption will be capped at 5 billion tons of coal equivalent, representing an annual rise of about 2.5 percent between 2016 and 2020. 

The share of non-fossil fuels will rise to more than 15 percent and the share of natural gas should reach 10 percent. 

The push for cleaner energy is partly a response to smog in northern China, which prompted the government to step up efforts on the war against pollution. 

Smog triggered red alerts in more than 20 cities at the beginning of the year. Although the breakdown of the smog`s sources -- including weather conditions, motor vehicle exhaust and industrial waste -- varies across China, winter coal consumption a major factor.

Substances directly related to coal burning are health hazards, including sulfates and soot, major components of PM2.5, airborne particles smaller than 2.5 microns in diameter.

The plan also promised a 18-percent cut in CO2 emissions per unit of GDP by 2020, compared to the 2015 level.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Oil output to fall 7% by 2020

Source: www.chinamining.org         Citation: Reuters      Date: January 18, 2017

China`s crude oil output is expected to drop by 7 percent by 2020, the final year of the current five-year plan, compared with the previous five-year period as output from some of the nation`s largest but oldest wells falls.

Crude output will be around 200 million tons by 2020, equivalent to 4 million barrels per day, according to the National Development and Reform Commission.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China`s largest rare earth firm expects profit plunge

Source: www.chinamining.org     Citation: Xinhua      Date: January 16, 2016

Chongqing Oil and Gas Trading Center was set up Thursday to deepen energy price reform and enhance international energy cooperation, China`s top economic planner said.

It is the second national-level trading center for the commodity market following Shanghai Oil and Gas Trading Center founded in 2015. 

The new trading center aims to further deepen China`s oil and gas price reform and strengthen energy cooperation with overseas countries, sources with the National Development and Reform Commission said. 

China`s southwestern city Chongqing has rich oil and gas resources and plays a leading role in the exploration and production of shale gas across the country.

Shareholders mainly come from large enterprises in the oil and gas industry.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

Chinese steel companies out of the red in Jan-Nov 2016

Source: www.chinamining.org     Citation: Xinhua      Date: January 13, 2016

Chongqing Oil and Gas Trading Center was set up Thursday to deepen energy price reform and enhance international energy cooperation, China`s top economic planner said.

It is the second national-level trading center for the commodity market following Shanghai Oil and Gas Trading Center founded in 2015. 

The new trading center aims to further deepen China`s oil and gas price reform and strengthen energy cooperation with overseas countries, sources with the National Development and Reform Commission said.

China`s southwestern city Chongqing has rich oil and gas resources and plays a leading role in the exploration and production of shale gas across the country.

Shareholders mainly come from large enterprises in the oil and gas industry.

About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.

China to use less coal, more clean energy in 2016-2020

Source: Xinhua         Citation: Xinhua      Date: January 5, 2017

BEIJING, Jan. 5 (Xinhua) -- China will cut coal consumption in its total energy use and raise the share of clean energy before 2020, according to the latest plan for the energy sector.

The share of non-fossil fuels will have risen to more than 15 percent and the share of natural gas should reach 10 percent, deputy head of the National Energy Administration Li Yangzhe said Thursday at a press conference.

The increase in non-fossil fuels and natural gas will account for more than 68 percent of total expected increase in energy consumption, meaning that clean and low-carbon energy sources will become a major part of the energy supply during the 2016-2020 period, Li said.

Total energy consumption will be contained within 5 billion tonnes of coal equivalent, representing an annual increase of about 2.5 percent, lower than an annual rise of 3.6 percent during the 2011-2015 period.

Energy use per unit of GDP will drop 15 percent during the new five-year period, Li said.

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About CHINA MINING

Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.

CHINA MINING Congress and Expo 2017 will be held at Meijiang Convention and Exhibition Center in Tianjin China in September23-25, 2017. We invite you to join the event and to celebrate the 19^th anniversary of CHINA MINING with us.  For more information about CHINA MINING 2017, please visit: www.chinaminingtj.org.