Coal news and updates

Coal

 

The spot price for 5,500kcal coal dropped by 5 yuan to 550 yuan/ton in Qinhuangdao in the week through September 1, according to the China Coal Transport and Distribution Association. 

China imposed a 3% import tax on brown coal starting August 30. China imported 36 million tons of brown coal in the first 7 months of 2013, which represented 19% of its total coal imports over the same period. Approximately 97% of China's brown coal imports were from Indonesia. 

China imported 28.7 million tons of coal in July, up 28.1% from a month earlier and up18.3% from a year earlier, according to customs figures. During the first 7 months, coal imports added up to 187 million tons, up 14.1% from a year earlier. 

Total profit of Chinese coal miners fell 43.8% from a year earlier in the first 7 months of 2013, the National Bureau of Statistics said, without giving the exact number. Accounts receivable at China's leading coal miners rose 18.9% year on year to 331 billion yuan as of June 30, according to the China Coal Industry Association. A glut in the coal market has brought down coal prices and hence the industry's profits, but cheaper coal has benefited power producers. 

Cement

 

China's cement output rose 9.6% year on year to 1.31 billion tons in the first 7 months of 2013; the growth rate was 4.3 percentage points faster than in the same period a year earlier, the National Development and Reform Commission said. Ex-factory cement price averaged 338 yuan/ton in July, down 0.4% from a month earlier and down 4.9% from a year earlier. 

Cement prices rose 0.3% week on week in China during the week through September 1, Citic Securities International said in a research report. Hunan and Guagnxi saw price increases, while Heilongjiang saw price declines. 

Metals

 

China's output of refined copper rose 12.4% year on year to 3.76 million tons in the first 7 months of 2013, including 2.47 million tons of copper mineral, the China Nonferrous Metals Industry Association. 

China's output of primary aluminum rose 8.6% year on year to 12.49 million tons in the first 7 months of 2013, the China Nonferrous Metals Industry Association. 

China's output of alumina rose 10.1% year on year to 25.22 million tons in the first 7 months of 2013, the China Nonferrous Metals Industry Association. 

China's output of 10 most used nonferrous metals rose 10.3% year on year to 22.87 million tons in the first 7 months of 2013; the growth rate was 3.6 percentage points faster than in the same period of a year earlier, the National Development and Reform Commissions said. 

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Source: thechinaperspective.com