Review of China's Coking Industry Development Trends and Outlook
In the first half of the year, the basic situation of coking industry in China 1.1 The strong market demand, coke production hit a new record high According to the National Bureau of Statistics and other express reports, from January to June, China's crude steel production reached 3505.43 million tons, an increase of 9.6%; pig iron The output was 325.478 million tons, an increase of 8.4% year-on-year; the production of ferroalloy was 14.012 million tons, a year-on-year increase of 21.7%; the output of calcium carbide was 8.640 million tons, a year-on-year increase of 14.2%. Driven by the high demand growth in these industries, China's coke production reached 211.375 million tons in the first half of the year, a year-on-year increase of 11.7%. In particular, driven by 11.9% and 11.6% increase in crude steel and pig iron production in June and 36.8% increase in ferroalloy production in June, coke production increased by 14.9%, and daily coke production reached a record high of 1,265,800 tons.
Judging from the industrial production structure, in the first half of the year, the iron and steel coking plant produced 65.46 million tons of coke, which was a year-on-year increase of 2.1%. The output of coking coal from other coking enterprises was 144.92 million tons, a year-on-year increase of 16.6%. This shows that coke production is mainly independent coking enterprises, independent coking companies must adhere to the production of sales, control of total production, in order to facilitate the smooth operation of the coke market.
1.2 The industrial structure has been further optimized. The momentum of capacity expansion has been slowed, and energy conservation and emission reduction have continued. According to the preliminary statistics from the China Coking Industry Association, the new coke production capacity in the first half of this year has slowed down compared to the same period of last year, but it still exceeds 10 million tons. It is expected that the annual new coke production capacity will be lower than the industrial and informational part of the solution, and the number of targeted tasks for eliminating outdated small coke ovens in 2011 will be 19.775 million tons. In 2011, the energy conservation and emission reduction in the coking industry in China will continue to advance, and the industrial structure will be further improved. optimization. From January to June, the energy consumption of the coking process of large and medium-sized coking enterprises included in the statistics was 124.83kgce/t, which was 8.96kgce/t lower than the same period of the previous year; the CDQ rate of the CDQ enterprises reached 81.0%, which was 0.68% higher than the same period of last year.
1.3 The export recovery of coke increased, but the export volume is still limited. According to statistics from the World Steel Association, from January to June, the global crude steel output was 758 million tons, an increase of 7.6% year-on-year; the pig iron production was 551 million tons, an increase of 6.3% year-on-year. The steady increase in global steel production has boosted the demand for Chinese coke. However, the export of coke is affected by high costs and high prices, and the export volume is still limited.
According to the national customs statistics, from January to June, China's total export of coke was 2.45 million tons, an increase of 1.05 million tons, an increase of 75.2%. However, compared with the export of about 1.1 million tons per month before 2008, it is still at a historically low level. In the first 6 months, the apparent consumption of coke in China was 207.93 million tons, an increase of 11.19% year-on-year. Domestic coke consumption accounted for 98.84% of the total domestic production, and exports accounted for only 1.16% of the total domestic production. China's coke production and sales are mainly based on Domestic market. It is estimated that the total amount of coke exports will be around 4 million tons throughout the year.
1.4 Decline in the Import of Coking Coal, Diversification of Channels According to statistics from the State Customs, from January to June, China's cumulative import of coking coal was 19.15 million tons, a year-on-year decrease of 14.3%; the average import price increased by 0.84% ​​year-on-year. Due to the increase in the proportion of raw coking coal imported from Mongolia, the average cif price of imported coking coal in China has declined since March.
As domestic coking enterprises calmly grasp and actively explore the coking coal resource market, China's coking coal import channels are diversified. At present, the main countries of scale import are Mongolia, Australia, the United States, Canada, Russia, and Indonesia. It is estimated that the total import of coking coal in China will be about 40 million tons this year.
1.5 Technological Progress and Innovation, Accelerating Green Transformation, and Promoting Smooth and Scientific Development of the Industry Xuyang Group successfully put into production the 300,000 t/a coal tar processing project in the second phase of Xingtai Xuyang Coal Chemical Industry in June, and reached full capacity on July 13 in the distillation section. Operation, the daily processing volume exceeds 900t. At this point, Xuyang Group's coal tar processing capacity reached 500,000 t/a. Shanxi Coking Co., Ltd. 2 million t/a coal washing plant reconstruction project, 5th and 6th coke oven CDQ project, 200,000 t/a methanol renovation and expansion project (400,000t), 600,000 t/a methanol to olefin project, etc. Start up in an all-round way to accelerate the transformation and upgrading of the company. The project of "7.63m extra-large carbonization chamber coke oven coal blending technology development and application" jointly completed by Pingdingshan Iron and Steel Coking Co., Ltd. and Wuhan Iron and Steel Research Institute won the first prize for the 2010 scientific and technological progress in the metallurgical industry.
1.6 The listing of coke ** has played an active role in evading market risks and stabilizing the coke market On April 15, 2011, the world’s first coke ** was successfully listed on the Dalian Commodity Exchange. Since the first half of the year, under the support of high coal prices and high costs, coke prices have basically remained stable in the fluctuations.
2 The situation and future development of the coking industry in China in the second half of the year 2.1 The domestic price of coking coal coke is hanging upside down, and the profit rate of the company's sales revenue is decreasing According to relevant data, from January to June, the national coal output was 1.78 billion tons, a year-on-year increase of 13.0%; The output was 506.718 million tons, a year-on-year increase of 24.2%. The domestic coal resources supply was generally loose. However, domestic coking coal prices continue to grow at a high level. According to relevant statistics, from January to May, the key statistics for large and medium-sized iron and steel enterprises increased the production cost of metallurgical coke by 11.77%, the average purchase cost of coking coal by 12.86%, the average purchase cost of coke increased by 7.51%, and the price of coke was higher than that of coking coal. 5.35 percentage points lower. According to relevant data, from January to June, the statistical coking enterprises included a total of 36.23% of sales revenue, a year-on-year decrease in total profit of 5.57%, and a loss of 38.36%. The coking company's sales profit rate decreased from 2.72% in the previous year to 2.38%. The operating pressure of coking enterprises has further increased.
2.2 Demand for coke market will gradually tighten and coke production growth will slow down In the first half of the year, China's crude steel production will increase by 9.6% year-on-year. Based on this measure, the annual crude steel output will reach 706 million tons. In the first half of the year, the net export of crude steel will only increase by 6.8. %. It is expected that the annual output of coke will exceed 410 million tons, an increase of about 6% from the previous year.
2.3 Transfer of coke production to major steel provinces and the west, many independent coking companies are facing more severe market challenges At present, China's coke production capacity has reached more than 500 million tons, and the average operating rate of large and medium-sized coking companies above and below scale is less than 80%. With the acceleration of western development and mergers and acquisitions (jointly) reorganization of steel companies, coke production has shifted significantly to major steel provinces and western regions. In the first half of this year, coking coal production in Shanxi Province still accounted for 21.11% of the country's total coke production, but coke production only increased by 8.2%; coke production in Shandong and Hebei increased by 27.8% and 13.9%, respectively; and coke production increased by 21% in Shaanxi, Chongqing, and Qinghai. %, 31% and 37%.
2.4 Enterprises will face greater funding and energy-saving and emission-reduction pressures As the central bank raises the bank's reserve requirement ratio and the macroeconomic control policy for deposit interest rates, corporate capital pressure will increase further. In the first half of the year, the financial expenses of large and medium-sized steel companies increased by 33.7% year-on-year, and the coking enterprises increased by as much as 46.63%. At the same time, due to the high monthly growth of coke production, the pressure for energy conservation and emission reduction will also increase significantly.
2.5 The high cost of production, high coke prices fluctuate, and the company will continue to operate at low profit for the first half of the year. The domestic coking coal procurement cost of steel companies rose by 12.86%. The state raised the price of thermal power in 15 provinces such as Shanxi. The high ore prices, coal prices and electricity prices, the depressed steel market, and the profitability of micro-books will make coking companies face more severe tests.
Judging from the industrial production structure, in the first half of the year, the iron and steel coking plant produced 65.46 million tons of coke, which was a year-on-year increase of 2.1%. The output of coking coal from other coking enterprises was 144.92 million tons, a year-on-year increase of 16.6%. This shows that coke production is mainly independent coking enterprises, independent coking companies must adhere to the production of sales, control of total production, in order to facilitate the smooth operation of the coke market.
1.2 The industrial structure has been further optimized. The momentum of capacity expansion has been slowed, and energy conservation and emission reduction have continued. According to the preliminary statistics from the China Coking Industry Association, the new coke production capacity in the first half of this year has slowed down compared to the same period of last year, but it still exceeds 10 million tons. It is expected that the annual new coke production capacity will be lower than the industrial and informational part of the solution, and the number of targeted tasks for eliminating outdated small coke ovens in 2011 will be 19.775 million tons. In 2011, the energy conservation and emission reduction in the coking industry in China will continue to advance, and the industrial structure will be further improved. optimization. From January to June, the energy consumption of the coking process of large and medium-sized coking enterprises included in the statistics was 124.83kgce/t, which was 8.96kgce/t lower than the same period of the previous year; the CDQ rate of the CDQ enterprises reached 81.0%, which was 0.68% higher than the same period of last year.
1.3 The export recovery of coke increased, but the export volume is still limited. According to statistics from the World Steel Association, from January to June, the global crude steel output was 758 million tons, an increase of 7.6% year-on-year; the pig iron production was 551 million tons, an increase of 6.3% year-on-year. The steady increase in global steel production has boosted the demand for Chinese coke. However, the export of coke is affected by high costs and high prices, and the export volume is still limited.
According to the national customs statistics, from January to June, China's total export of coke was 2.45 million tons, an increase of 1.05 million tons, an increase of 75.2%. However, compared with the export of about 1.1 million tons per month before 2008, it is still at a historically low level. In the first 6 months, the apparent consumption of coke in China was 207.93 million tons, an increase of 11.19% year-on-year. Domestic coke consumption accounted for 98.84% of the total domestic production, and exports accounted for only 1.16% of the total domestic production. China's coke production and sales are mainly based on Domestic market. It is estimated that the total amount of coke exports will be around 4 million tons throughout the year.
1.4 Decline in the Import of Coking Coal, Diversification of Channels According to statistics from the State Customs, from January to June, China's cumulative import of coking coal was 19.15 million tons, a year-on-year decrease of 14.3%; the average import price increased by 0.84% ​​year-on-year. Due to the increase in the proportion of raw coking coal imported from Mongolia, the average cif price of imported coking coal in China has declined since March.
As domestic coking enterprises calmly grasp and actively explore the coking coal resource market, China's coking coal import channels are diversified. At present, the main countries of scale import are Mongolia, Australia, the United States, Canada, Russia, and Indonesia. It is estimated that the total import of coking coal in China will be about 40 million tons this year.
1.5 Technological Progress and Innovation, Accelerating Green Transformation, and Promoting Smooth and Scientific Development of the Industry Xuyang Group successfully put into production the 300,000 t/a coal tar processing project in the second phase of Xingtai Xuyang Coal Chemical Industry in June, and reached full capacity on July 13 in the distillation section. Operation, the daily processing volume exceeds 900t. At this point, Xuyang Group's coal tar processing capacity reached 500,000 t/a. Shanxi Coking Co., Ltd. 2 million t/a coal washing plant reconstruction project, 5th and 6th coke oven CDQ project, 200,000 t/a methanol renovation and expansion project (400,000t), 600,000 t/a methanol to olefin project, etc. Start up in an all-round way to accelerate the transformation and upgrading of the company. The project of "7.63m extra-large carbonization chamber coke oven coal blending technology development and application" jointly completed by Pingdingshan Iron and Steel Coking Co., Ltd. and Wuhan Iron and Steel Research Institute won the first prize for the 2010 scientific and technological progress in the metallurgical industry.
1.6 The listing of coke ** has played an active role in evading market risks and stabilizing the coke market On April 15, 2011, the world’s first coke ** was successfully listed on the Dalian Commodity Exchange. Since the first half of the year, under the support of high coal prices and high costs, coke prices have basically remained stable in the fluctuations.
2 The situation and future development of the coking industry in China in the second half of the year 2.1 The domestic price of coking coal coke is hanging upside down, and the profit rate of the company's sales revenue is decreasing According to relevant data, from January to June, the national coal output was 1.78 billion tons, a year-on-year increase of 13.0%; The output was 506.718 million tons, a year-on-year increase of 24.2%. The domestic coal resources supply was generally loose. However, domestic coking coal prices continue to grow at a high level. According to relevant statistics, from January to May, the key statistics for large and medium-sized iron and steel enterprises increased the production cost of metallurgical coke by 11.77%, the average purchase cost of coking coal by 12.86%, the average purchase cost of coke increased by 7.51%, and the price of coke was higher than that of coking coal. 5.35 percentage points lower. According to relevant data, from January to June, the statistical coking enterprises included a total of 36.23% of sales revenue, a year-on-year decrease in total profit of 5.57%, and a loss of 38.36%. The coking company's sales profit rate decreased from 2.72% in the previous year to 2.38%. The operating pressure of coking enterprises has further increased.
2.2 Demand for coke market will gradually tighten and coke production growth will slow down In the first half of the year, China's crude steel production will increase by 9.6% year-on-year. Based on this measure, the annual crude steel output will reach 706 million tons. In the first half of the year, the net export of crude steel will only increase by 6.8. %. It is expected that the annual output of coke will exceed 410 million tons, an increase of about 6% from the previous year.
2.3 Transfer of coke production to major steel provinces and the west, many independent coking companies are facing more severe market challenges At present, China's coke production capacity has reached more than 500 million tons, and the average operating rate of large and medium-sized coking companies above and below scale is less than 80%. With the acceleration of western development and mergers and acquisitions (jointly) reorganization of steel companies, coke production has shifted significantly to major steel provinces and western regions. In the first half of this year, coking coal production in Shanxi Province still accounted for 21.11% of the country's total coke production, but coke production only increased by 8.2%; coke production in Shandong and Hebei increased by 27.8% and 13.9%, respectively; and coke production increased by 21% in Shaanxi, Chongqing, and Qinghai. %, 31% and 37%.
2.4 Enterprises will face greater funding and energy-saving and emission-reduction pressures As the central bank raises the bank's reserve requirement ratio and the macroeconomic control policy for deposit interest rates, corporate capital pressure will increase further. In the first half of the year, the financial expenses of large and medium-sized steel companies increased by 33.7% year-on-year, and the coking enterprises increased by as much as 46.63%. At the same time, due to the high monthly growth of coke production, the pressure for energy conservation and emission reduction will also increase significantly.
2.5 The high cost of production, high coke prices fluctuate, and the company will continue to operate at low profit for the first half of the year. The domestic coking coal procurement cost of steel companies rose by 12.86%. The state raised the price of thermal power in 15 provinces such as Shanxi. The high ore prices, coal prices and electricity prices, the depressed steel market, and the profitability of micro-books will make coking companies face more severe tests.
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