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More than 25 countries and regions commit to phase out coal-fired power plants by 2030

2020-01-09

OnNovember17,theFinancialTimesChineseNetworkreportedthatmorethan25countriesandregionspledgedtostopusingcoaltogenerateelectricityby2030,addingnewimpetustoglobaleffortstoreducecoaluse. Thisinitiative,jointlysponsoredbytheUnitedKingdomandCanada,issupportedbycountriessuchasFrance,Italy,Mexico,theNetherlands,Finland,Portugal,andNewZealand,aswellasprovincessuchasWashingtonState,Ontario,andAlberta. Theabovecountriesandregionshavepromisedtophaseoutcoal-firedpowerplants,althoughsomecountrieshaveindicatedthattheywillachievethisgoalby2030.Forexample,theUnitedKingdomhaspromisedtostopusingcoaltogenerateelectricityby2025. "Coalwillneverbegone,"saidCatherineMcKenna,Canada'sMinisterofEnvironmentandClimateChange."Theeconomicreasonsareclear.Thecostofsolarandwindpowerhasbeendrasticallyreduced.CleanelectricityisalsoincreasinglybecomingThecheapestelectricity." ThesecommitmentsareinstarkcontrasttothepositiontakenbytheTrumpadministration,whichvowedtoexpandUScoaluseandcreatemorecoalminejobs. ThisinitiativewasofficiallyannouncedattheUnitedNationsClimateChangeConferenceinBonn,Germany,hopingtoincludeatleast50countriesbynextyear.Scientistsandresearchershavelongarguedthatglobaleffortstocombatclimatechangerequiremajoractiontoreducecoaluse.

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In September, the growth rate of raw coal production accelerated, and imports changed from negative to positive, and prices rose slightly.

2020-01-09

SinceSeptember,withthegradualimplementationoftheNationalDevelopmentandReformCommission'spolicyofensuringsupplyandpricestabilization,coalpriceshavestartedtostabilizeafterabriefspikeinmid-September.However,duetotheapproachoftheheatingseason,coalpricesareexpectedtobeaffectedbywintercoalstorage.Stillhigh.ThedomesticrawcoalproductioninSeptemberwas300milliontons,ayear-on-yearincreaseof7.6%,anincreaseof3.5%overAugust;theaveragedailyproductionwas9.937milliontons,anincreaseof557,000tons;thedomesticrawcoalproductionfromJanuarytoSeptemberwas2.59billiontons,ayear-on-yearincreaseof5.7%.InSeptember,coalimportswere27.08milliontons,anincreaseof10.8%year-on-year.Thegrowthratechangedfromnegativetopositive,andtheimportvolumeincreasedby1.81milliontons.FromJanuarytoSeptember,200milliontonsofcoalwereimported,anincreaseof13.7%year-on-year.AsoftheendofSeptember,theQinhuangdao5500kcalcoalclosingpricewas623yuanperton,anincreaseof16yuanmonth-on-month;5000kcalpertonwas48yuan,amonth-on-monthincreaseof48yuan;4500kcalpertonwas532yuan,amonth-on-monthincreaseof39yuan.(CoalIndustryNetwork)

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Global overcapacity challenge still exists

2020-01-09

ArecentreportbytheOrganizationforEconomicCooperationandDevelopment(OECD)warnsthatexcesscapacityoutsideChinaisaffectingtheglobalsteelindustry'srecovery.Internationalobserversbelievethatovercapacityinsteelandotherindustriesisaglobalproblem.Chinahascutcapacityinthepasttwoyearstohelptheglobalsteelandotherindustriesrecoverfromthedownturncausedbyovercapacity.Inthefuture,countriesshouldcontinuetostrengthencommunicationandcooperationtocollectivelyaddressthechallengeofovercapacity.. Thechallengeofglobalovercapacitystillexists AccordingtoareportreleasedbytheOECD'sIronandSteelCommittee,globalsteelmakingcapacityinthefirsthalfof2017was2.36billiontons,aslightdecreaseof0.6%from2.37billiontonsinthesameperiodof2016.Amongthem,theMiddleEast,SouthAmerica,andotherEuropeancountriesexcepttheEuropeanUnionandotherregionshavenoticeableincreasesinsteelproductioncapacity."Theexcesscapacityisataworryinglyhighlevel,"saidLivenTop,chairmanofthesteelcommission. Thisreportpredictsthatfrom2017to2019,theglobalsteelproductioncapacitywillincreasebynearly40milliontons,ofwhichtheMiddleEastwilladdabout23milliontons. AlistairRamsay,directorofAmericanMetalsMarketResearch,saidthatincreasingsteelproductioncapacityinanyregionmayposesignificantriskstofuturesteelpricingandprofits. AccordingtotheOECDreport,globalsteeldemandwillpickupinthefuture,butitwillnotbeenoughtodigestthecurrentexcesscapacity.AnalystChrisHoldenoftheBritishCommodityResearchInstitutealsoexpectsthatglobaldemandgrowthwillnotbesufficienttoprovideareasonablebasisfornewcapacity. LiBo,avisitingresearcherattheCenterforInternationalChineseStudiesatAichiUniversityinJapan,saidinaninterviewwithXinhuaNewsAgencythattheglobalovercapacityproblemisstillveryserious.Itismainlyconcentratedintraditionalindustriessuchassteel,non-ferrousmetals,andrubber,whicharemainlybasedonrawmaterialprocessing.Themarketanddevelopingcountrieshaveconcentratedexcesscapacity. China'soutstandingcontributiontocapacityreduction Overcapacityisacyclicalphenomenonundermarketeconomicconditionsandastructuralproblem.Sincetheoutbreakoftheinternationalfinancialcrisis,thedeclineintheworldeconomyhascauseddemandtoshrink,whichistherootcauseofthecurrentglobalovercapacityinindustriessuchassteel. Overseasexpertsalsopointedoutthataftertheinternationalfinancialcrisis,manycountrieshaveadoptedlarge-scaleeconomicstimulusmeasures,givingprioritytothedevelopmentofsteel,petrochemicalandotherindustries,butlimitedtechnologicalinvestment,resultinginexcessivelow-endcapacity,insufficienthigh-endcapacity,andstructuralexcesscapacity. SomeWesternpoliticiansandcompaniesarekeentoblameChinaforovercapacity,whichisneitherobjectivenorfair.Infact,inrecentyears,Chinahastakentheinitiativetotakethesupply-sidestructuralreformasthemainlinetodigestandeliminateexcesscapacitysuchassteelandcoal,whichhascontributedtotheinternationalcommunity. China'seffortstoreduceproductioncapacityareuniqueintheworld.OfficialdatashowthatChinawithdrewmorethan65milliontonsofsteelcapacitylastyear,andthisyearithasreduceditsoutputbyabout50milliontons.ChinaIronandSteelIndustryAssociationstatedthatChinahasbasicallyachievedthetargetofreducingovercapacityof100millionto150milliontonswithinfiveyearssetlastyear. EdwinBassoon,directorgeneraloftheWorldSteelAssociation,saidthatChinahasplayedaprominentroleinreducingexcessproductioncapacityglobally.Inthepasttwoyears,ChinahasreduceditsproductioncapacitytothesamelevelastheUnitedStates. InaninterviewwithXinhuaNewsAgencyreporter,Ramsaysaidthattheglobalexcesssteelproductioncapacityhascontinuedtodeclinesincetheendof2015,andChinahascontributed. China'soutstandingperformanceincapacityreductionisduetothegovernment'saccurategraspoftrendsanditsstrongexecutioncapacity.XiongYu,atenuredprofessorattheNewcastleSchoolofBusinessatNorthumbriaUniversityintheUnitedKingdom,saidthatcomparedwithmostcountries,Chinahasimplementedrelevantmeasuresmoreaccuratelyandeffectively,andhasimplemented"digestingabatch,transferringabatch,integratingabatch,eliminatingabatch"Thecorrectpath. SergeiLukkonen,directoroftheChineseMinistryofEconomicsandPoliticalAffairsoftheInstituteofWorldEconomicsandInternationalRelationsoftheRussianAcademyofSciences,saidthatChinaiscompressingandeliminatingbackwardproductioncapacityandimprovingthelevelofproductiontechnology.ChinahascompletedthisprocessandcooperatedwithothercountriestoachievetransnationalEnvironmentalproductionwillcreateahighvalue-addedinternationalindustrialchainwithbetterproductionefficiency. Strengthencooperationisthesolution Overcapacityinsteelandotherindustriesisaglobalproblem.Ontheroadtoglobalcapacityreduction,allpartiesneedtorespondcollectively,shareresponsibility,andacttogether,ratherthanblameeachotherorevenbuildahighwallofprotectionism. Inthefaceofglobalovercapacity,overseasexpertshavecalledoncountriestostrengthencommunicationandcooperationandtakeeffectivemeasurestoenhancemarketmediationfunctions.GuoShengxiang,directoroftheAustralianInstituteofInnovationandFinance,saidthatthereisanOrganizationofPetroleumExportingCountriesintheoilsector,andtheresho

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