Recently, the Ministry of Land and Resources has decided to continue to accept new applications for coal prospecting rights nationwide. Analysts pointed out that the country hopes to ease the price pressure caused by excess coal production capacity by controlling the total supply. However, downstream demand may continue to deteriorate, making coal prices continue to fall.
According to the statistics of the Ministry of Land and Resources, China's existing coal resources and enterprises have sufficient resources for protection. At present, there are more than 2,300 coal exploration rights in the country, which together account for about 500 billion tons of resource reserves. The country's 23,000 coal mining enterprises occupy more than 270 billion tons of resource reserves, accounting for 23.4% of the total retained resources reserves, and have not yet occupied more than 9,000 resource reserves. Billion tons, accounting for 76.6% of total ownership.
Behind the huge amount of resources, domestic coal production capacity is also rapidly expanding. According to the statistics of the China Coal Association, China's coal output in 2008 was 2.716 billion tons, which is equivalent to the actual output, with 400 million tons of idle production capacity. At present, the approved production capacity has exceeded the target output of the National Mineral Resources Plan.
According to the National Mineral Resources Planning approved by the State Council in the recent past, China's planned coal production in 2010 was 2.9 billion tons. The gap between China's coal production in 2008 and China's planned coal production in 2010 is less than 200 million tons. During the period from 2007 to 2008, there were more than 520 coal mining rights for exploration rights in the country, of which only 70 new mining rights (including renovations and expansions) newly set up by the Ministry of Land and Resources were expected to add more than 210 million tons of new production capacity. If we add more than 450 new mining rights set by the provinces, the national coal production capacity will reach much higher than planned production in 2010.
Although the domestic idle capacity is accelerating and the coal market price is falling due to the impact of the international financial crisis, some social investors expect the coal demand after the crisis to remain high. So far from the end of 2008, social investment applications for coal exploration and mining are still relatively low. many.
Wang Ye, an analyst in the coal industry of CITIC Securities, believes that the oversupply in the coal market in China in the next two years will continue to be over pressure. It is very necessary for the country to control the launch of coal prospecting rights from the source, which can help stabilize the current oversupply of the coal market and avoid overcapacity due to overheated exploration investment, which is of great significance for the long-term development of China's coal industry.
In spite of this, in the short term, due to the weakened demand from the power downstream industries such as steel and cement, the power generation output of power companies will fall, and the coal industry will once again face the pressure of inventory. CICC analysts believe that after April, domestic coal prices are still facing downward pressure. Due to lack of demand, coal middlemen are not willing to endure price inversion, and will eventually evolve into a squeeze on the still-existing pit coal prices, resulting in a second round of coal price decline.
In addition, the relative weakness of international coal prices will also exert pressure on domestic coal prices in the future. For example, in 2009, Australia has signed coking coal prices of US$129/ton, thermal coal prices of US$70/ton, and jet coal prices of US$90. / Ton, are significantly lower than China's coal spot prices.
According to the statistics of the Ministry of Land and Resources, China's existing coal resources and enterprises have sufficient resources for protection. At present, there are more than 2,300 coal exploration rights in the country, which together account for about 500 billion tons of resource reserves. The country's 23,000 coal mining enterprises occupy more than 270 billion tons of resource reserves, accounting for 23.4% of the total retained resources reserves, and have not yet occupied more than 9,000 resource reserves. Billion tons, accounting for 76.6% of total ownership.
Behind the huge amount of resources, domestic coal production capacity is also rapidly expanding. According to the statistics of the China Coal Association, China's coal output in 2008 was 2.716 billion tons, which is equivalent to the actual output, with 400 million tons of idle production capacity. At present, the approved production capacity has exceeded the target output of the National Mineral Resources Plan.
According to the National Mineral Resources Planning approved by the State Council in the recent past, China's planned coal production in 2010 was 2.9 billion tons. The gap between China's coal production in 2008 and China's planned coal production in 2010 is less than 200 million tons. During the period from 2007 to 2008, there were more than 520 coal mining rights for exploration rights in the country, of which only 70 new mining rights (including renovations and expansions) newly set up by the Ministry of Land and Resources were expected to add more than 210 million tons of new production capacity. If we add more than 450 new mining rights set by the provinces, the national coal production capacity will reach much higher than planned production in 2010.
Although the domestic idle capacity is accelerating and the coal market price is falling due to the impact of the international financial crisis, some social investors expect the coal demand after the crisis to remain high. So far from the end of 2008, social investment applications for coal exploration and mining are still relatively low. many.
Wang Ye, an analyst in the coal industry of CITIC Securities, believes that the oversupply in the coal market in China in the next two years will continue to be over pressure. It is very necessary for the country to control the launch of coal prospecting rights from the source, which can help stabilize the current oversupply of the coal market and avoid overcapacity due to overheated exploration investment, which is of great significance for the long-term development of China's coal industry.
In spite of this, in the short term, due to the weakened demand from the power downstream industries such as steel and cement, the power generation output of power companies will fall, and the coal industry will once again face the pressure of inventory. CICC analysts believe that after April, domestic coal prices are still facing downward pressure. Due to lack of demand, coal middlemen are not willing to endure price inversion, and will eventually evolve into a squeeze on the still-existing pit coal prices, resulting in a second round of coal price decline.
In addition, the relative weakness of international coal prices will also exert pressure on domestic coal prices in the future. For example, in 2009, Australia has signed coking coal prices of US$129/ton, thermal coal prices of US$70/ton, and jet coal prices of US$90. / Ton, are significantly lower than China's coal spot prices.
Double Sided Duct Tape,Double Sided Hot Melt Duct Tape,Carpet Tape,Double Side Carpet Tape
JIANGMEN BAOGUAN ADHESIVE MATERIAL CO.,LTD , https://www.baoguantape.com