The Coal Hub
No Result
View All Result
  • Login
  • Premium Content
    • All
    • Climate & Technology
    • Coal Fired Generation
    • Coal Market Outlook
    • Coal Regions
    • Coal Trade
    • Economic Impact
    • Met / Coking Coal
    • Others
  • Blog
  • Events
  • Industry Links
    • Coal Consultants
    • Coal Industry Association
    • Coal Industry News
    • Coal Price & Market Information
    • Government Organisation
    • Think Tank
    • Coal Company
  • Newsletter
  • Videos
  • Other Hubs
    • EUROPEAN GAS HUB
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
  • Subscribe
  • My account
  • Login
SUBSCRIBE
  • Premium Content
    • All
    • Climate & Technology
    • Coal Fired Generation
    • Coal Market Outlook
    • Coal Regions
    • Coal Trade
    • Economic Impact
    • Met / Coking Coal
    • Others
  • Blog
  • Events
  • Industry Links
    • Coal Consultants
    • Coal Industry Association
    • Coal Industry News
    • Coal Price & Market Information
    • Government Organisation
    • Think Tank
    • Coal Company
  • Newsletter
  • Videos
  • Other Hubs
    • EUROPEAN GAS HUB
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
  • Subscribe
  • My account
  • Login
The Coal Hub
No Result
View All Result
Home Coal Production

China’s ferrous market gives way to CPC 100th anniversary

Editor by Editor
2 years ago
min read4 min
fireworks test at Tian’anmen Square
Share on FacebookShare on TwitterShare on Linkedin

China’s ferrous and steel-consuming sectors such as construction have reported various degrees of disruption to their daily operations by the grand celebration of the 100th anniversary of the founding of the Communist Party of China (CPC) with the formal ceremony to be held in Beijing on July 1, Mysteel Global understood from the related markets on June 22.

RELATED POSTS

StableCoin

Russia considers launching stablecoins to settle export supply payments

4 days ago
World-coal-market

World coal market: brief overview

4 days ago
Global coal consumption: not dead (yet)?

Global coal consumption: not dead (yet)?

7 days ago

Over June 23-July 1, Tian’anmen Square, the venue for the ceremony, will be closed for the related preparatory work including the huge themed horticultural displays and fireworks tests, and the few scenic spots surrounding the square will also be shut over June 25-26 until July 1, the Beijing municipal government shared the closure schedules on its official WeChat account on June 21.

Besides, the roads around the venue will be imposed on traffic control over June 26-27 for the rehearsals.

fireworks test at Tian’anmen Square

(Pic: fireworks test at Tian’anmen Square)

It has been a common practice for Beijing to control the traffic, ban heavy trucks on the road, halt construction work to minimize dust pollution, and suspend explosive distributions to the domestic mining operations out of mining accident concerns whenever the country is celebrating a memorable occasion, and this time it is of no exception, according to the Beijing residents.

“Many office buildings in Beijing have stopped welcoming any visitors (probably out of safety concerns),” a Beijing source shared.

Construction sites in Beijing and neighbouring regions stopped

Construction projects in Beijing and neighbouring regions have indeed been shut, and “with (construction) projects been ordered to stop a few days ago, we have had no business recently,” a Beijing-based steel trader admitted. The stoppage will last until the ceremony is over, which will be a very quiet period for either the steel traders or the mills that have been supplying steel to the capital, according to him.

An official from a Shanghai-based consultancy company with Beijing building contractors as customers confirmed. “Our contractors have asked their employees to take leave these days,” she added.

Meanwhile, the impact on spot steel trading has largely been limited to Beijing alone, unlike on the previous important occasions such as China’s 70th birthday when Tangshan, the country’s top steelmaking city over 100km away from Beijing, had ordered its locals mills to scale down production during the celebration period.

This time, “we have not been asked to further cut down on production, but we are still sticking to the 30%-50% (since late March) steel capacity cuts,” an official from a Tangshan mill commented, and so far, “the celebration has not affected our supply, demand or local market sentiment,” he commented.

On June 22, the daily trading volume of construction steel including rebar, wire rod and bar-in-coil across 237 traders nationwide totaled 180,938 tonnes/day, reversing up 12.4% on day and the HRB400E 20mm rebar price in Beijing was Yuan 4,830/tonne ($745.3/t) including the 13% VAT as of June 22, down Yuan 120/t on day, sharper than Yuan 70/t on-day decline of the corresponding national price.

horticultural display in Beijing

(Themed horticultural display in Beijing, source: Beijing government)

Domestic coal, coke markets directly impacted

Despite a rather normal steelmaking nationwide, some domestic coal mines have received outright orders to idle their operations over mid-June to early June just to minimize the chances of mining accidents during the celebration, market sources shared.

This has been on top of the ongoing workplace safety checks at coal mines across the country’s core production bases since the start of June, and “this has almost become a new normal now that inspectors will arrive without announcements for spot checks,” said an industrial source in North China’s Inner Mongolia, one of China’s core coal mining bases.

So far this year, China has reported quite a few deadly accidents at gold, coal and iron ore mining sites, and the intensified inspections as a result, together with the special occasion celebration, “have been stringent and thorough, with the details such as internal self-checking records on facilities and records of whether mining workers have been dressed appropriately including the safety vests,” he added.

Hubei province in Central China also ordered all its local coal mines to halt underground mining and conduct maintenance instead over June 15-July 5 just to be zero accident, the provincial government-backed Hubei Daily reported.

Some other regions such as Qinshui and Yangcheng both in Jincheng, North China’s Shanxi, have been reportedly imposing similar measures too, Mysteel Global understands.

Mainly impacted by the supply side disruption, Mysteel’s national composite coking coal price jumped Yuan 163/t on week to Yuan 1,543.2/t including the 13% VAT, refreshing the high since Mysteel commenced the assessment on April 5 2018.

China’s domestic iron ore mines feel limited impact

China’s central government has dispatched 16 inspection teams to 31 provinces, municipalities, and autonomous regions to check on safety at all the local mining operations until July 10 as part of the efforts to nurture a safe and peaceful environment for the celebration, according to a WeChat post on June 22 by the Metallurgical Mines’ Association of China (MMAC).

“Currently, our operations are all as per normal,” an official from a Hebei-based iron ore mine, though “explosive distribution will be suspended for a few days around July 1, but it will just affect mining, not processing, so the impact on our iron ore concentrates will be limited,” he elaborated.

Usually, China’s related authorities will stop supplying explosives to the domestic mining operations, which is proven the easiest and most efficient way to minimize accidents during any serious celebrations, Mysteel Global understands.

Besides, local authorities usually crack down on truck overloading as this could be a serious safety hassle too, the Hebei official added, though he clarified that their truck fleets have always been honouring the related loading limits, so this will be of little inconvenience to them.

Two sources from the iron ore mining operations in Liaoning of Northeast China and Shandong of East China, the country’s two core iron ore production bases, reported no disruption to their mining or explosives distributions yet.

Shanxi, a key iron ore and coal mining province in China, though, has halted all the local underground iron ore mines immediately after a deadly accident at an underground iron ore mine Daixian of Shanxi on June 10, as reported, and the date of resumption has yet been known.

As of June 22, iron ore trading for port inventories was relatively active, and Mysteel PORTDEX 62% Australian Fines in Qingdao recovered Yuan 7/wmt ($1.1/wmt) on day to Yuan 1,487/wmt FOT and including 13% VAT after a drop of Yuan 42/dmt on day on Monday.

Source: Sean Xie, Olivia Zhang, Hongmei Li, Victoria Zou

Tags: ChinaCommunist Party of Chinairon ore minesmarketsMySteel GlobalTian’anmen Square
Editor

Editor

Related Posts

StableCoin
Coal Demand

Russia considers launching stablecoins to settle export supply payments

4 days ago
World-coal-market
Coal Demand

World coal market: brief overview

4 days ago
Global coal consumption: not dead (yet)?
Coal Demand

Global coal consumption: not dead (yet)?

7 days ago
Coal-production-in-Kuzbass
Coal Demand

Coal production in Kuzbass down 8% in 2022

2 weeks ago
World-coal-market
Coal Demand

World coal market: brief overview

2 weeks ago
Australia cracks down on coal miners with price cap
Coal Prices

Australia cracks down on coal miners with price cap

2 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Trending Posts

World-coal-market

World coal market: brief overview

January 20, 2023
Coal-production-in-Kuzbass

Coal production in Kuzbass down 8% in 2022

February 1, 2023
Global coal consumption: not dead (yet)?

Global coal consumption: not dead (yet)?

February 1, 2023

Recent Post

StableCoin

Russia considers launching stablecoins to settle export supply payments

February 3, 2023
World-coal-market

World coal market: brief overview

February 3, 2023
Pacific coal prices retain record premium over Europe

Pacific coal prices retain record premium over Europe

February 2, 2023
Global coal consumption: not dead (yet)?

Global coal consumption: not dead (yet)?

February 1, 2023
Coal-production-in-Kuzbass

Coal production in Kuzbass down 8% in 2022

February 1, 2023
World-coal-market

World coal market: brief overview

January 27, 2023

The Coal Hub is an online platform for sharing analysis and information about the global coal market  more info

Categories

  • Coal Market Outlook
  • Coal Trade
  • Met / Coking Coal
  • Coal Fired Generation
  • Coal Regions
  • Climate & Technology
  • Economic Impact

Recent Posts

Russia considers launching stablecoins to settle export supply payments

World coal market: brief overview

Pacific coal prices retain record premium over Europe

Energise your Friday!

Sign up to receive our weekly newsletter (each Friday) with new coal market reports, presentations & analysis.

By signing up, I agree to our TOS and Privacy Policy.

© 2020 TheCoalHub | All Rights Reserved

No Result
View All Result
  • Premium Content
    • All
    • Climate & Technology
    • Coal Fired Generation
    • Coal Market Outlook
    • Coal Regions
    • Coal Trade
    • Economic Impact
    • Met / Coking Coal
    • Others
  • Blog
  • Events
  • Industry Links
    • Coal Consultants
    • Coal Industry Association
    • Coal Industry News
    • Coal Price & Market Information
    • Government Organisation
    • Think Tank
    • Coal Company
  • Newsletter
  • Videos
  • Other Hubs
    • EUROPEAN GAS HUB
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
  • Subscribe
  • My account
  • Login

© 2020 TheCoalHub | All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Energise your Friday!

Interested in coal markets? Do you want our free email each FRIDAY with at least 3 new COAL reports & presentations?

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?