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Chinese Authorities Attribute Power Shortage to ‘Rapid Industrial Production Growth’, No Mention of Australian Coal Boycott
As many provinces in China face power shortage, the National Development and Reform Commission (NDRC) has said in a statement that it was the result of economic recovery and a cold spell without mentioning the authorities’ boycott of Australian coal since last month, which commentators believe has exacerbated the crisis.
The Xinhua News Agency reported that power supply in Hunan and Jiangxi have been under pressure while rationing is in place in Zhejiang. The NDRC responded on 17 December that a rapid growth in industrial production and a cold spell had led to a more-than-expected increase in electricity demand. It further claimed that power supply had remained stable and residential consumption had not been affected, adding that it had been working with relevant departments and enterprises to ensure a steady electricity supply. The statement made no mention of the authorities’ earlier move to limit the import of Australian coal by such means as restricting high-priced coal purchases by power companies.
Source: Stand News #Dec19
#Australia #China #NDRC #PowerShortage #Coal #Boycott #Economy #Diplomacy
https://bit.ly/2WJZsSy
As many provinces in China face power shortage, the National Development and Reform Commission (NDRC) has said in a statement that it was the result of economic recovery and a cold spell without mentioning the authorities’ boycott of Australian coal since last month, which commentators believe has exacerbated the crisis.
The Xinhua News Agency reported that power supply in Hunan and Jiangxi have been under pressure while rationing is in place in Zhejiang. The NDRC responded on 17 December that a rapid growth in industrial production and a cold spell had led to a more-than-expected increase in electricity demand. It further claimed that power supply had remained stable and residential consumption had not been affected, adding that it had been working with relevant departments and enterprises to ensure a steady electricity supply. The statement made no mention of the authorities’ earlier move to limit the import of Australian coal by such means as restricting high-priced coal purchases by power companies.
Source: Stand News #Dec19
#Australia #China #NDRC #PowerShortage #Coal #Boycott #Economy #Diplomacy
https://bit.ly/2WJZsSy
Forwarded from 📡Guardians of Hong Kong
Australia wants China coal ban will contravene WTO rules
Canberra has asked Beijing to clarify whether it has formally banned Australian coal, warning that such a move would breach Would Trade Organization rules and harm both countries.
Due to informal trade sanctions imposed by Beijing, dozens of cargo ships carrying Australian coal stranded off the Chinese coast and was unable to unload shipments, in some cases for months.
Citi analyst Paul McTaggart said China’s decision on blocking Australian’s coal would lead to a rerouting of global supply, whereby Chinese steel producers would by more coking coal from North America and European producers would buy more Australian coal. Coal prices rose sharply in December 2020.
Source: FT #Dec15
https://www.ft.com/content/2a8ebd12-b30c-4aed-8028-8b31e5e8d667
#AustraliaChina #TradeSanction #Coal
Canberra has asked Beijing to clarify whether it has formally banned Australian coal, warning that such a move would breach Would Trade Organization rules and harm both countries.
Due to informal trade sanctions imposed by Beijing, dozens of cargo ships carrying Australian coal stranded off the Chinese coast and was unable to unload shipments, in some cases for months.
Citi analyst Paul McTaggart said China’s decision on blocking Australian’s coal would lead to a rerouting of global supply, whereby Chinese steel producers would by more coking coal from North America and European producers would buy more Australian coal. Coal prices rose sharply in December 2020.
Source: FT #Dec15
https://www.ft.com/content/2a8ebd12-b30c-4aed-8028-8b31e5e8d667
#AustraliaChina #TradeSanction #Coal
Forwarded from 📡Guardians of Hong Kong
China formalises cut to Australian coal imports, state media reports
The Chinese state reported that China has formalised import restrictions targeting Australia’s $14bn coal exports and China would prioritise imports from Mongolia, Indonesia and Russia. Also, power companies will share inventory to ensure prices do not exceed 640 yuan ($97.8) per ton.
The National Development and Reform Commission met 10 major power companies on the weekend and granted approval for them to import coal without clearance restrictions, except for Australia.
Due to China’s import restrictions, at least 60 bulk carriers holding hundreds of millions tonnes of Australian coal stranded off the Chinese coast.
Source: The Guardian #Dec14
https://www.theguardian.com/australia-news/2020/dec/14/china-formalises-cut-to-australias-coal-imports-state-media-reports?CMP=Share_iOSApp_Other
#AustraliaChina #Coal #TradeRestriction #AustralianCoal
The Chinese state reported that China has formalised import restrictions targeting Australia’s $14bn coal exports and China would prioritise imports from Mongolia, Indonesia and Russia. Also, power companies will share inventory to ensure prices do not exceed 640 yuan ($97.8) per ton.
The National Development and Reform Commission met 10 major power companies on the weekend and granted approval for them to import coal without clearance restrictions, except for Australia.
Due to China’s import restrictions, at least 60 bulk carriers holding hundreds of millions tonnes of Australian coal stranded off the Chinese coast.
Source: The Guardian #Dec14
https://www.theguardian.com/australia-news/2020/dec/14/china-formalises-cut-to-australias-coal-imports-state-media-reports?CMP=Share_iOSApp_Other
#AustraliaChina #Coal #TradeRestriction #AustralianCoal