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voda 16 augustus 2018 15:54

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Chinese steel mills push output to 4th straight monthly high

Global Times reported that China's steel output rose in July to a fourth straight monthly record as mills ran full tilt to cash in on strong profit margins, despite anti-smog measures imposed by local governments. Data from the National Bureau of Statistics showed that mills in China, the world's top steel producer, churned out 81.24 million tonnes of crude steel last month, up 1.3 percent from June and 7.2 percent from the same month last year. Year-to-date output to end-July grew 6.3 percent compared with the previous year to 532.85 million tonnes.

Mr Wang Yilin, an analyst at Sinosteel Futures said that "The reason we didn't see declines in steel output amid the environmental crackdown is that steel mills have improved their production efficiency by using higher grades of iron ore and adding more scrap steel to churn out more products.”

According to analysts from Huatai Futures, Profit margins at Chinese steel mills touched around 1,100 yuan (USD 159.59) a tonne, near the record levels seen in December 2017. The margins are supported by strong demand from downstream users and ongoing supply-side reform, as well as environmental measures that have helped to eliminate low-cost producers from the market, the Huatai futures analysts said.

Source : Global Times

voda 16 augustus 2018 16:47

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China's US aluminium scrap imports set to fall 73pct in 2018 - Antaike

Today Online reported that China's aluminium scrap imports from the United States are set to drop by around 73% this year in the wake of tariffs placed on the material by Beijing, according to Antaike, research arm of the China Nonferous Metals Industry Association.

Antaike said in a note that US scrap aluminium imports would fall by 450,000 tonnes in 2018 from last year's total of almost 620,000 tonnes, with a 25% tariff on US scrap from Aug. 23 making it "no longer feasible" to import from the United States.

Source : Today Online

voda 16 augustus 2018 16:50

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China's solar stress could burn more deal-makers

REUTERS reported that China's solar stress could burn more dealmakers. The industry faces a glut of raw materials and panels after the Chinese government slashed support for the heavily indebted sector. The first victim of the switch is industry giant GCL-Poly Energy, which scrapped plans to flog assets to state-backed Shanghai Electric . It won't be the last.

The loss of official support has cast a shadow over the business. After Beijing in June limited the number of new projects and cut tariffs it pays to solar generators, analysts lowered their forecasts for new installations of solar capacity this year by as much as a third. That signals dark days ahead, as new projects drive growth for both power plant operators and manufacturers.

The industry's dependence on hefty leverage a legacy of hasty expansion and delayed subsidy payouts makes its position more precarious. Some solar companies, such as Panda Green Energy, were already struggling with net borrowing of more than 10 times EBITDA.

The squeeze is especially hard on manufacturers of solar materials and equipment, which must splash cash on research to stay competitive. Meanwhile, overcapacity has depressed prices: Chinese solar modules now trade at a 15 percent discount to the global average, according to Macquarie.

Distress should spur consolidation. The Solactive China Solar Index has fallen nearly 20 percent since the policy shift. As valuations sink, less indebted players like LONGi Green Energy Technology can go bargain-hunting.

But GCL-Poly's doomed deal shows how hard it is for two sides to agree a sensible financial transaction. Selling a 51 percent stake in a key subsidiary for around $1 billion cash and another $1 billion in Shanghai Electric shares would have lowered the company's net debt, which was 4.5 times EBITDA at the end of 2017. For its part, Shanghai Electric would have gained a foothold in alternative energy at a time when policymakers are keen to move on from fossil fuels.

The deal's failure suggests more merger muddles ahead. The prospect of grid parity the day when electricity from solar energy costs as little as the coal-powered variety could embolden optimists to try for higher valuations. Ambitious tycoons like GCL-Poly's Chairman Zhu Gongshan are another volatile variable. For dealmakers, the risk of sunburn is high.

Source : Reuters

voda 17 augustus 2018 15:09

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'Lancering Google in China nog ver weg'

Gepubliceerd op 17 aug 2018 om 08:15 | Views: 810

Alphabet 16 aug
1.224,06 -8,16 (-0,66%)

NEW YORK (AFN) - De lancering van een speciale Google-zoekmachine in China die voldoet aan de eisen van Chinese autoriteiten is nog ver weg. Dat zei Google-topman Sundar Pichai tijdens een besloten bijeenkomst met personeel van het Amerikaanse techbedrijf, aldus Amerikaanse media.

Volgens Pichai heeft het bedrijf alleen zijn interesse kenbaar gemaakt in het mogelijk weer betreden van de Chinese markt. Volgens hem bevindt het project dat de naam Dragonfly heeft zich nog in een vroeg stadium. Ook is er nog geen beslissing genomen of Google daadwerkelijk zal terugkeren op de Chinese markt, die het in 2010 verliet.

Personeel van Google zei eerder niet blij te zijn met de plannen voor een Chinese zoekmachine die door censuur de eigen gedragscodes van het techbedrijf zou schenden. Met de aangepaste zoekmachine zouden sommige websites of zoektermen kunnen worden geblokkeerd. Honderden werknemers van Google-moeder Alphabet eisten meer transparantie, overzicht en verantwoording van Google met betrekking tot het project.

voda 17 augustus 2018 15:58

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China restarts suspended projects for construction of thermal power plants

Economic Herald reported that China restarts suspended projects for construction of thermal power plants, despite the government efforts of fighting pollution and air pollution. The reason, according to analysts, probably lies in the recovery of electricity demand in China. Familiar with the problem believe that many of the coal-fired power plants are at a loss and there is still considerable overproduction in the country.

The Coal Swarm analysis shows that the construction of new and restarted thermal power plants with a total capacity of 46.7 gigawatts is visible in the satellite images provided by Planet Labs. These plants are either already generating energy or are in the final stage of construction.

After starting operations, the new thermal power plants will increase China’s electricity production by 4%.

One of the most serious problems of the coal mining in the country since 2016 is the large production capacity.

Recently published economic data for the first half of 2018 show that China’s energy needs are rising.

Mr Li Fulong, head of planning and development at the National Energy Administration, told a news conference on June 30 that the consumption of coal power in China has risen by about 3.1% in the period from January to June compared with the same period of 2017

The arrival of the summer months led to a temporary energy shortage in some regions of the country, with energy demand reports outpacing supply in the Shandong, Henan, Hunan, Hubei and Zhejiang provinces. In Shandong, electricity shortages are estimated at 3 gigawatts.

This has led to weaker constraints in the coal mining sector. In May 2018, the National Energy Administration of China authorized the provinces of Shenzhen, Hubei and Anhui to restart the construction of coal-fired power plants.

The sectors most in need of energy, such as construction, reported a rapid growth at the start of the new millennium, and by 2013 China has experienced a 12-year increase in electricity consumption. This has led to excessive investment in coal mining throughout the country and eventually resulted in overcapacity and financial risk.

The blind expansion of coal mining has led to serious air pollution, and in some areas causes and shortages of drinking water.

Source : Economics Herald

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voda 21 augustus 2018 16:03

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China hoopt op oplossing in kift met VS

Gepubliceerd op 21 aug 2018 om 10:32 | Views: 2.115

PEKING (AFN/RTR) - China hoopt op een oplossing in de aanhoudende handelsvete met Verenigde Staten. Dat meldde een regeringswoordvoerder dinsdag voorafgaand aan de gesprekken die vertegenwoordigers van beide landen deze week voeren in Washington.

De Amerikaanse president Donald Trump zei eerder weinig van het overleg te verwachten. Ook zou er geen tijdspad bestaan voor het herstellen van de verhoudingen. Zakenkrant The Wall Street Journal meldde eerder dat er gewerkt werd aan een oplossing vóór november.

De handelsoorlog mondde al uit in miljarden dollars aan importtarieven door beide landen en dreigementen voor nog eens honderden miljarden aan heffingen. Ook heeft de vete een flinke impact op de wereldwijde markten.

voda 21 augustus 2018 16:29

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Hebei Province to clear zombie steel makers in 2018

Global Times reported that China's Hebei Province is strengthening efforts to promote industrial upgrading and transformation in the steel sector with the aim to cut capacity by more than 10 million tonnes by year end. As per report in local media, Hebei plans to clear out all "zombie firms" in the steel industry in 2018 and will continue to reduce another 10 million tonnes of steel production capacity in 2019

By 2020, the province will have cut around 20 million tonnes of steel, and steel capacity of the whole province by then will have been limited to 200 million tonnes, according to the report.

Hebei is the largest steel-producing province in China, accounting for about half of the nation's output. Many problems have gradually emerged over time due to intensified operations, the report said, noting that the local government has rolled out many measures to boost steel industrial adjustments and reform.

Source : Global Times

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voda 21 augustus 2018 16:44

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Chinese aluminium production up by 12pct in July

Aluminium Insider reported that aluminium output by smelters in the People’s Republic of China was at near record highs again last month according to numbers just released by National Bureau of Statistics, as smelters reopened a significant portion of the capacity that was closed at this time last year. The Bureau said that China’s total output in July rose 12 percent year-on-year to 2.93 million metric tonnes. That total matched last June’s output, and was a 3.4-percent improvement over May’s numbers.

The month on month rise in July was in stark contrast to last year’s drop of 8.4% over the same period. The precipitous fall was largely the result of the shuttering of 3.2 million metric tons per year of illicit aluminium production. Totals continued to fall through to December, when newly built capacity came online and reversed the slide.

China’s daily output averaged 94.5 thousand metric tonnes of primary aluminium, which was under the overall record of 97.7 thousand metric tonnes per day in a month of 30 days.

For the year’s first seven months, country-wide production came to 19.4 million metric tonnes, a rise of 3% over last year’s production through July.

UBS’s Lachlan Shaw, global commodity strategist, said that the rise in production is not necessarily a bad thing for aluminium smelters. He said that “There is more capacity in the market. The price is good. A lot of inflationary pressures we saw over the winter last year have ebbed…so it’s a good time to be making aluminum.”

He continued by saying that the received wisdom of the end of capacity expansion in the Middle Kingdom may not be as certain as some hope.

Source : Aluminium Insider

voda 21 augustus 2018 16:46

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China dominates Europe's wind energy market - IEEFA

Institute for Energy Economics and Financial Analysis said that China's investment in foreign wind-powered electricity markets has surpassed USD 12 billion in Europe and Australia alone as private and state-owned Chinese companies move aggressively to capitalise on fast-growing renewable energy markets. Most of the wind investment activity has been in Europe. Sydney-based IEEFA analyst Simon Nicholas said that "China is now a driver of the European energy transformation and its international leadership in low emissions sectors of the future are entirely aligned with efforts to increase China's global economic influence.”

Mr Nicholas said that "While Chinese foreign renewable energy investments were boosted by the launch five years ago of its Belt and Road Initiative (BRI), its foreign renewable energy investment now extends well beyond that framework. This is a superpower taking its energy policy global.”

IEEFA's research brief said that China's foreign renewable energy investments have increased as a result of the country's pan-Asian Belt and Road Initiative, but the majority of these investments are not in BRI countries.

Interestingly, in BRI countries and in non-BRI developing countries, China continues to build coal-fired power projects as opportunities for domestic coal projects dry up.

The brief builds on an IEEFA paper published in January that described how China has become a leading global renewable energy investor "defying an overall slowdown in Chinese overseas investment as the country further positioned itself to dominate in new energy technologies such as batteries and electric vehicles".

That report put China's 2017 investment in new energy technology and resources at USD 44 billion, up from USD 32 billion in 2016.

In 2017, the Chinese government began restructuring its power-generation sector in an effort to reduce reliance on coal and exported China's renewable energy technology while continuing to promote its coal technology in foreign developing markets.

Chinese foreign energy investment from 2003 to 2017 was dominated by hydro and coal-fired power, with wind and solar coming to the fore more recently by way of technology gains, efficiency improvements and dramatic declines in cost.

The briefing notes, however, that while Chinese wind and solar investment goes well beyond the BRI to developed nations, coal-fired power activity remains high within the BRI and in other developing countries.

"From 2003 to 2017, the majority of China's foreign power investments in Southeast Asia went to hydro ($45 billion) and coal ($12 billion) projects, amounts significantly higher than Chinese wind investment in the European Union ($6.8 billion) and Australia ($5 billion).

"Although this trend is influenced by the fact that wind and solar investment has ramped up only within the last few years, it is clear that Chinese coal power investment is restricted more to the BRI and to developing countries.

The brief includes notes on Chinese companies that include China General Nuclear, China Resources Power, China Shenhua Group, China Three Gorges, State Development and Investment Corp, China Huadian Corp, and China Huaneng Group.

The US-based IEEFA conducts global research and analyses on financial and economic issues related to energy and the environment.

Source : Economic Times

voda 22 augustus 2018 14:38

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Xiaomi voert omzet verder op

Gepubliceerd op 22 aug 2018 om 13:00 | Views: 420

PEKING (AFN) - De Chinese smartphonemaker Xiaomi heeft de afgelopen periode de omzet flink opgevoerd. Dat kwam vooral door oplopende verkopen buiten China, terwijl het in China de strijd aangaat met concurrenten als Oppo. Door een eenmalige bate haalde het bedrijf ook een nettowinst. Xiaomi ging in juli naar de beurs in Hongkong.

De omzet van Xiaomi ging met 68 procent omhoog naar 45,2 miljard yuan (5,7 miljard euro). Wel steeg de omzet minder hard dan in het eerste kwartaal toen die met 86 procent omhoog ging.

Onder de streep bleef een winst van 14,7 miljard yuan over. Dat was een jaar eerder nog een verlies van 12 miljard yuan. Die winst werd echter veroorzaakt door een meevaller van 22,5 miljard yuan na een herwaardering van aandelen. Zonder die meevaller was er sprake van een operationeel verlies van 7,6 miljard yuan.

Xiaomi verkoopt zijn smartphones tegen relatief lage prijzen. Het bedrijf wil op die manier klanten winnen voor zijn diensten. De omzet van die internetdiensten ging met 9 procent omhoog.

voda 22 augustus 2018 16:24

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Japan Nissan Motors to invest USD 900 million in China – Nikkei

Reuters reported that, Japan's Nissan Motor Co will spend around USD 900 million to build a new auto assembly plant in China that will increase production capacity in the company by 30%. Nikkei newspaper reported that Nissan, which operates in China through a joint venture with Dongfeng Motor Group Co Ltd, is in final stages of talks with its Chinese partner to build a new plant in Wuhan in Hubei province.

The Nikkei said that the investment in Wuhan, which totals 100 billion yen (USD 905 million), is expected to have an annual production capacity of 200,000 to 300,000 cars a year.

A spokesman from Nissan told Reuters that new production lines will be added to a Dongfeng plant in Changzhou in Jiangsu province, which will increase capacity by about 120,000 passenger cars a year.

In addition to Changzhou, Nissan is exploring the possibility of expanding production capacity in China, but no further details can be confirmed, the spokesman said.

Source : Reuters

voda 22 augustus 2018 16:27

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China shifts to Iranian tankers to keep oil flowing amid US sanctions - Report

Reuters reported that Chinese buyers of Iranian oil are starting to shift their cargoes to vessels owned by National Iranian Tanker Co (NITC) for nearly all of their imports to keep supply flowing amid the re-imposition of economic sanctions by the United States. The shift demonstrates that China, Iran's biggest oil customer, wants to keep buying Iranian crude despite the sanctions, which were put back after the United States withdrew in May from a 2015 agreement to halt Iran's nuclear programme.

The United States is trying to halt Iranian oil exports to force the country to negotiate a new nuclear agreement and to curb its influence in the Middle East. China has said it is opposed to any unilateral sanctions and has defended its commercial ties with Iran.

The first round of sanctions, which included rules cutting off Iran and any businesses that trade with the country from the US financial system, went into effect on August 7th. A ban on Iranian oil purchases will start in November. Insurers, which are mainly US or European based, have already begun winding down their Iranian business to comply with the sanctions.

To safeguard their supplies, state oil trader Zhuhai Zhenrong Corp and Sinopec Group, Asia's biggest refiner, have activated a clause in its long-term supply agreements with National Iranian Oil Corp (NIOC) that allows them to use NITC-operated tankers, according to four sources with direct knowledge of the matter.

They spoke on condition of anonymity as they were not allowed to speak publicly about commercial deals.

The price for the oil under the long-term deals has been changed to a delivered ex-ship basis from the previous free-on-board terms, meaning that Iran will cover all the costs and risks of delivering the crude as well as handling the insurance, the sources said.

One of the sources, a senior Beijing-based oil executive, said that "The shift started very recently, and it was almost a simultaneous call from both sides."

In July, all 17 tankers chartered to carry oil from Iran to China are operated by NITC, according to shipping data on Thomson Reuters Eikon. In June, eight of 19 vessels chartered were Chinese operated.

Source : Reuters

voda 22 augustus 2018 16:35

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Toyota to increase production capacity in China by 20pct

Reuters reported that, Japan's Toyota Motor Corp will build additional capacity at its auto plant in China's Guangzhou, a company source said, in addition to beefing up production at a factory in Tianjin city by 120,000 vehicles a year. A person close to the company said that Toyota will build capacity at the production hub in the south China city of Guangzhou to also produce an additional 120,000 vehicles a year, an increase of 24 % over current capacity. All together, between the eastern port city of Tianjin and Guangzhou, Toyota will boost its overall manufacturing capacity by 240,000 vehicles a year, or by about 20%.

Toyota's production capacity in China is 1.16 million vehicles a year.

Reuters reported earlier that Toyota plans to build additional capacity in Tianjin to produce 10,000 all-electric battery cars and 110,000 plug-in hybrid electric cars a year.

Toyota's planned additional capacity in Guangzhou is also for electrified vehicles, said the company source, who declined to be named because he is not authorised to speak on the matter.

The source did not say how much the additional capacity would cost. The Tianjin expansion is likely to cost USD 257 million, according to a government website.

The planned capacity expansions in Guangzhou and Tianjin are part of a medium-term strategy of the Japanese automaker that aims to increase sales in China to two million vehicles per year, a jump of over 50 %, by the early 2020s, according to four company insiders with knowledge of the matter.

Source : Reuters

voda 22 augustus 2018 16:36

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Chinese companies taking over local construction industry in Sri Lanka

Sunday Times reported that the dominance of foreign construction companies in Sri Lanka’s construction industry may bring about the collapse of local construction companies within years, industry sources said. They said Chinese and Indian construction companies were taking over mega projects while the Sri Lankan companies watched helplessly. They said that already Chinese companies were handling about 40 percent of construction projects. The China International Construction (CHINCA), representing the Chinese construction industrialists in Sri Lanka, at a recent meeting with Sri Lanka’s Chamber of Commerce is reported to have said that Chinese companies planned to take over 70 percent of the market in the next 3 years.

Alarmed, the Construction Industry Development Authority (CIDA) is seeking Government approval for legislation to protect local companies. Under its Act No. 33 of 2014, CIDA is developing a Building Code to protect the Sri Lankan construction sector.

CIDA Director Suvinda Amarasekera said a Cabinet paper had been prepared and would be presented soon. He said the proposed legislation would minimise the undue advantages enjoyed by foreign construction companies over local companies. It would prevent the use of mediocre standards and substandard products in identified construction work as laid down in the CIDA Act.

Amarasekera said that a Building Code Steering Committee (BCSC) would be formed under the CIDA Act and it would include representatives from the Urban Development Authority, the Local Government Ministry and the National Building and Research Organisation (NBRO). There would also be representatives from professional organisations such as the Institution of Engineers Sri Lanka (IESL), the Sri Lanka Institutes of Architects and associations representing building contractors will participate.

Chief Executive Officer (CEO) of the Association of Major Contractors of Sri Lanka Brigadier Madura Wijewickrema, said foreign companies undertaking construction contracts had a big advantage over local companies. He said the foreign companies were being supported by their governments and had a competitive edge in a fierce bidding market. They also had the advantage of not paying taxes in Sri Lanka. Their workers’ salaries were paid in their own countries. As a result, the foreign workers did not spend much here, except on their food.

Brig. Wijewickrema warned that in the near future the foreign companies would move into smaller construction projects, even residential projects. This would lead to a crisis, where local companies would be wiped out within five years.

He said that they had warned government leaders of the impending crisis, but little or no action had been taken. He said, that in the past , Chinese construction companies only went in for international bidding for projects through donor agencies. However when they saw the opportunities available here during the previous regime, they started negotiating unsolicited proposals by influencing governments.

He added that the governments here had also been unfair when awarding tenders. When awarding contracts a new practice of combining several minor projects into a major one was being adopted. When it became a mega project, local companies did not qualify to bid on the basis of available expertise and human resources.

Source : Sunday Times

voda 23 augustus 2018 14:15

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Groei Alibaba zet door

(ABM FN-Dow Jones) Alibaba Group heeft in het afgelopen kwartaal minder winst geboekt dan een jaar terug, vanwege een hoge compensatie in aandelen als gevolg van de overname van Ant Financial. Dit bleek vrijdag uit de resultaten van de Chinese e-commerce reus.

De winst daalde van 14,0 miljard naar 7,7 miljard yuan, ofwel omgerekend 1,6 miljard dollar.

Ondanks deze winstdaling sprak Alibaba van een "uitstekend" kwartaal. Exclusief eenmalige posten nam de winst wel toe, benadrukte het Chinese concern.

De aangepaste winst per aandeel steeg van 7,95 naar 8,04 yuan. Een consensus samengesteld door FactSet kwam echter uit op 8,28 yuan.

De omzet steeg in het afgelopen kwartaal met 61 procent tot 80,9 miljard yuan.

Alibaba had afgelopen kwartaal 634 miljoen mobiele gebruikers, 17 miljoen meer dan een jaar terug.

De omzet uit de cloudactiviteiten verdubbelde bijna tot 4,7 miljard yuan. Maar ook de andere bedrijfsonderdelen lieten dubbelcijferige stijgingen zien.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved

voda 23 augustus 2018 14:18

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Cnooc schrijft beste resultaat sinds 2014

Gepubliceerd op 23 aug 2018 om 11:55 | Views: 612

Royal Dutch Shell A 14:00
28,34 +0,23 (+0,82%)

HONGKONG (AFN/BLOOMBERG) - Cnooc heeft in de eerste helft van dit jaar zijn beste resultaten in de boeken gezet sinds 2014. Het Chinese olieconcern profiteerde vooral van de gestegen olieprijzen.

De nettowinst kwam uit op 25,5 miljard yuan, omgerekend zo'n 3,2 miljard euro. Dat is 57 procent meer dan een jaar eerder. Analisten hadden overigens wel op nog wat meer winst gerekend. De opbrengsten stegen met 21 procent tot 90,3 miljard yuan. Cnooc laat zijn aandeelhouders meeprofiteren van het verbeterde resultaat en verhoogt het interimdividend.

Het concern verdient bijna al zijn geld met de productie van olie en gas en houdt zich veel minder dan concurrenten bezig met raffinage. Cnooc investeert dit jaar flink in het oppompen van nog meer olie en gas.

voda 23 augustus 2018 14:46

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VS stellen nieuwe tarieven in tegen China

Gepubliceerd op 23 aug 2018 om 08:49 | Views: 3.577

WASHINGTON (AFN/RTR) - De Verenigde Staten hebben nieuwe importheffingen ingesteld op Chinese goederen ter waarde van 16 miljard dollar (13 miljard euro). Als reactie heeft China heffingen ingevoerd voor Amerikaanse producten met dezelfde totale waarde. China dient ook een klacht in bij wereldhandelsorganisatie WTO tegen de VS.

De nieuwe importheffing van 25 procent van de Amerikanen treft 279 productgroepen uit China, waaronder halfgeleiders, chemicaliën, motoren en elektrische scooters en stepjes. Andersom moet in China extra worden betaald voor de import van Amerikaanse brandstoffen, staalproducten, auto's en medische apparatuur.

Het betreft al de zoveelste ronde van handelssancties in een een geschil tussen beide landen dat is uitgegroeid tot een regelrechte handelsoorlog. Vertegenwoordigers van China en de VS zijn sinds dinsdag bezig met onderhandelingen om een einde te maken aan het conflict. De Amerikaanse president Donald Trump gaf vooraf echter aan weinig hoop te hebben op een goed resultaat.

voda 24 augustus 2018 16:19

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SK Innovation starts construction for EV battery plant in Changzhou in China

Pulse News reported that South Korea’s largest oil refiner SK Innovation Co has finally embarked on construction of its first battery cell plant in China after years of delay as the Chinese government is set to completely end its EV subsidies that have discriminated against those fitted with Korean-made batteries in 2020. The company said on Wednesday it has begun land leveling for its battery cell factory in Changzhou, Jiangsu Province in China. This will be the company’s first battery cell plant in China and it hopes the new Chinese factory can enable it to compete against global players with faster and more cost-effective delivery to electric vehicle brands.

SK Innovation’s new plant aims to produce 7.5GWh worth of battery cells a year, which is enough to power about 150,000 high-performance EVs. The company also plans to scale up its Korean battery plant to 4.7GWh and add a 7.5GWh capacity plant in Hungary to accomplish a goal to up its total capacity to 20GWh by 2022.

China is home to global EV battery manufacturers, such as Japan’s Panasonic, China’s CATL and Korea’s LG Chem and Samsung SDI. LG Chem and Samsung SDI are already churning out battery cells in China besides their plants in Korea and Europe.

Source : Pulse News

voda 24 augustus 2018 16:23

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Chinese thermal coal demand may rise further – Citi Research

S&P Global reported that according to a Citi Research report, China might see a 140 million mt increase in raw coal demand should the current rate of growth in thermal power continue in months to come, giving the seaborne coal market boost. This is despite the fact that hydropower demand has been picking up during this time. For coal demand, one of the key drivers of growth in 2017 was the decline in hydropower output, which experienced negative growth in early 2017 and ended 2017 down 1.7% year on year. Although China's hydropower output grew 2.9% in the first half of 2018, it may not be able to derail thermal coal generation growth, which rose 7.3% year on year in the first seven months of 2018, the report said.

The expected growth in China's thermal coal demand may also be evidenced by the utilization rates of thermal power plants, which rose 5.3% year on year in the first seven months of 2018, according to the report.

The average utilization was 5,294 hours/year, indicating an average utilization rate of 60% in 2011. This dropped to 4,165 hours/year with an average utilization rate of 48% in 2016. This was largely due to the 230GW of coal fired power capacity added over the past 5 years.

China's power demand rose 9.4% year on year in the first half of 2018. In July 2018, China consumed 648.4 million MwH of power, up 6.8% year on year, taking China's Jan-July power demand growth rate to 9.0% year on year, the report said. In comparison, China Electricity Council had expected power demand in 2018 to grow 5.5% year on year at the start of the year.

Source : S&P Global

Bijlage:

voda 24 augustus 2018 16:28

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Chinese Hebei plans more rail, river freight to cut truck pollution - Report

Reuters reported that the smog-prone Chinese province of Hebei is aiming to slash road freight in favor of rail and river transport over the next two-and-a-half years as part of efforts to improve air quality. Hebei will improve port infrastructure to facilitate the change, and shift deliveries of iron ore to steel mills to rail. In a local briefing, officials said Hebei will accelerate construction of new rail links in the next two years to reduce road freight, according to a transcript published on the provincial government's website.

Mr Song Shuqiang, vice-head of the province's transportation bureau, said that "Exhaust emissions from road freight vehicles, especially medium- and heavy-duty diesel trucks, are one of the main sources of atmospheric pollution. It aims to raise the rail delivery capacity for iron ore shipped from the major port of Caofeidian to 40 million tonnes by next year, up from about 15 million tonnes this year. By 2020, all major deliveries of iron ore and coking coal from the ports of Huanghua and Tangshan, which includes Caofeidian, will be by rail or waterways rather than roads.”

The province has vowed to cut concentrations of hazardous airborne particles known as PM2.5 by a further 15 percent over 2017-2020, although they would still be at more than five times the World Health Organisation's recommended level.

Source : Reuters

AEX 887,44 +8,73 +0,99% 03 mei


Germany40^	18.017,10	+0,67%
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Europe50^	4.930,44	+0,18%
US30^	38.691,83	0,00%
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Japan225^	38.326,05	0,00%
Gold spot	2.301,75	0,00%
EUR/USD	1,0762	+0,34%
WTI	78,11	0,00%

VIVORYON THER...	+7,18%
Flow Traders	+4,87%
BESI	+4,11%
Brunel	+3,91%
UMG	+3,62%

HEIJMANS KON	-5,17%
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AMG Critical ...	-3,16%
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