HOW CHINA'S ELECTRICITY SHORTAGE AFFECTED COAL PRICE
Chinese officials have taken steps to address the energy crisis, such as ordering increased coal production and transportation to thermal power plants, reassuring that there is enough supply when winter arrives.
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HOW CHINA'S ELECTRICITY SHORTAGE AFFECTED COAL PRICE
China is going through a period of severe power shortage. The pressures from the emission reduction target and the sharp increase in coal prices make China's power supply increasingly strained. As a result, China's huge manufacturing industry is increasingly affected by power shortages. From aluminum smelters to textile manufacturers and soybean processors, all are under orders to limit operations. In some cases, they have to close completely.
Chinese officials have taken steps to address the energy crisis, such as ordering increased coal production and transportation to thermal power plants, reassuring that there is enough supply when winter arrives. The country is also considering increasing industrial electricity prices to ease supply stress, (according to Bloomberg)
Chinese authorities have called for increased domestic coal production. Currently, China, the world's top coal consumer, imported a total of 197.69 million tons of coal in the first eight months of the year, down 10% year-on-year.
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China is currently Vietnam's largest import market in the first nine months of the year, with a turnover of $81.2 billion, up nearly 41% over the same period last year. According to statistics from the General Department of Customs, coal is one of the commodity groups with a high proportion of imports from this market, besides Indonesia and Russia.
Power shortages in China also have the potential to increase pressure on global supply chains by driving up prices of raw materials and other inputs.
In fact, the coal price in the first 6 months of 2020 was 98.8 USD/ton, to this year has increased to 159.7 USD/ton, which means an increase of 150%.
In addition to coal, the oil industry is also volatile, gasoline and oil price has increased and show no sign of stopping. Accordingly, chemical prices are also hourly.
Mega Vietnam Company has been providing black coal N220, N330, N660, N990 at stable prices compared to current market prices.
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