A picture tells a thousand words, Chinese steel edition. China 2011 net coal imports to surge 63 pct -Citi. China may run out of coal in 21 years | 16 December 2010 | www.commodityonline.com. China’s ravenous appetite for energy puts the country at risk of reaching a point of “peak coal,” when demand for coal will outstrip domestic production capacity. 16 Dec 2010 BEIJING (Commodity Online) : China’s ravenous appetite for energy puts the country at risk of reaching a point of “peak coal,” when demand for coal will outstrip domestic production capacity. China accounts for around 14% of global coal reserves but its share of global coal consumption is already over triple that at 47%, which is unsustainable.
With domestic coal demand increasing around 10 percent each year, China would run out of coal in 21 years, even if it were to cut demand by 5 percent, Hong Kong brokerage CLSA Asia-Pacific Markets said in a recent report. Beijing is considering an annual coal production cap of 3.6 billion-3.8 billion tons in its upcoming five-year plan to be released early next year, state-run news agency Xinhua reported. China currently relies on coal for about 70 percent of its power. Chinese coal prices to maintain upward trend. Li Xuegang, general manager of Qinhuangdao-based Coal Exchange Center, said that domestic coal prices will maintain their upward trend. To read the rest of the article please fill out the “Free Membership” form Through the web site we can get a quick and accurate understanding of the changes in the international market prices, which gives us reference value to our import and export business.
XueyanBeijing Zhongcailizhi Co. ,ltd Get Instant Access to Latest Steel News & Interviews: The latest independent steel news coverage Compiled by high quality worldwide steel industry network +25 fresh news articles provided daily in 4 different languages. China 2010 coal output to hit 3.3 billion tons | 09 February 201. China’s Logistics Information Center said the country will increase its coal output this year to an estimated 3.3 billion tons to keep up with the needs of the recovering domestic economy. 09 Feb 2010 BEIJING (Commodity Online) : China’s Logistics Information Center said the country will increase its coal output this year to an estimated 3.3 billion tons to keep up with the needs of the recovering domestic economy. In a report issued here, it said, positive factors, which include increasing steel output, stable energy prices and favorable policies, will motivate coal producers to increase their output this year. Trading platform that even a 5 year old can trade.
Join now However, the analyst also said that there are still negative factors, such as lack of sufficient transportation capacity as well as energy-conservation and emission-reduction policies, that discourage growth in coal output. Due to all these factors, coal prices will likely fluctuate this year, the report said,
Coal’s China conundrum | FT Energy Source | FT.com. When US coal giant Peabody reduced its bid for Australia’s Macarthur Coal by 6.3 per cent, the newly-announced Australian resources tax was easy to target as a scapegoat. Indeed, Peabody said the revision “follows Peabody’s due diligence as well as the introduction of the Australian resources profit tax proposal”. It’s now offering $A15 per share, down from its previous bid of $16 but still higher than its original $13 offer. The bid was raised amid fears of a competing move from Noble, a major shareholder in Macarthur — and as the FT reported, the newfound Chinese enthusiasm for coal imports was a big factor in the ensuing sparks.
However quite a few other things are going on in commodities markets beyond the debate over Australia’s resources tax – not least of which is uncertainty over whether China’s massive demand for base metals will continue, after bank reserve rules were tightened last week. Problem is, that might not be the case after all. It adds: From the release: Related links: China Business News: China Power Int'l inks coal purchase deal w. Feb. 10, 2010 (China Knowledge) - China Power International Development Ltd<2380>, a subsidiary of China Power Investment Corp, has signed a 20-year coal purchase agreement with privately-owned Resourcehouse, a coal and iron-ore project developer in Australia, said Resourcehouse on Saturday.
Pursuant to the agreement, China Power International will buy 30 million tons of coal each year from Resourcehouse for an annual fee of about US$3 billion. The deal is the largest export contract in Australia's history, said Clive Palmer, chairman of Resourcehouse, adding that he had also awarded an engineering, procurement and construction management contract to the Metallurgical Corp of China. The coal mine project, located in Queensland State, will need a total investment of US$8 billion, of which US$5.6 billion will be funded by the Export-Import Bank of China and the remaining will come from Palmer. About that $60bn China coal deal… | FT Energy Source | FT.com. Last weekend in Queensland, Australia, saw a big announcement: the country’s largest-ever export deal, with a Chinese company agreeing to pay $60bn over 20 years for supplies from an as-yet-undeveloped coal mine in the state’s west.
A 490km train line to the coast and processing facilities would also be built. The length of the contract and the amount of coal discussed – 30m tonnes per annum – is apparently agreed. The $60bn, however, turns out to have been an estimate. It all began when China Power International Development Limited said it had never contacted Resourcehouse, the Australian company that announced the deal – much less negotiated a big deal. That was quickly cleared up: Resourcehouse had intended to name China International Power Holding, CPI’s unlisted parent company. From The Courier-Mail, on Resourcehouse chairman Clive Palmer: The same story in the Courier-Mail says Queensland Premier Anna Bligh ‘leapt to Mr Palmer’s defence’: Palmer says the media got it wrong: