In view of the complex international situation, relevant ministries and commissions recently held a series of meetings on ensuring energy security and giving full play to the role of coal ballast.
Government activities
Interpretation of the executive meeting of the State Council: give play to the role of coal as the main energy, and increase the production capacity by 300 million tons this year
The executive meeting of the State Council held on April 20 pointed out that energy is the basic support for economic and social development. We should be based on China's national conditions, respond to new challenges of the external environment, grasp key points, strengthen energy supply, take precautions, promote the construction of energy projects with mature conditions and development needs, and promote the continuous optimization of energy structure. The meeting pointed out that we should give play to the main energy role of coal. We will work together to optimize the approval policies for production and project construction of coal enterprises, implement the local responsibility for stabilizing production and ensuring supply, and fully release advanced production capacity. Through nuclear capacity increase, production expansion and new production, 300 million tons of coal capacity will be added this year. Promote clean and efficient utilization of coal and strengthen the construction of reserve facilities. Using market-oriented and legal methods to guide the operation of coal prices in a reasonable range.
Han Zheng: China will vigorously promote the clean utilization of coal based on the basic national condition that the energy structure is dominated by coal
Han Zheng, member of the Standing Committee of the Political Bureau of the CPC Central Committee and vice premier of the State Council, attended the opening ceremony of the 2022 annual meeting of the Boao Forum for Asia in Boao, Hainan on the 21st, collectively met with the directors of the forum and representatives of strategic partners, and had a discussion with representatives of Chinese and foreign entrepreneurs. On the issue of energy supply guarantee, Han Zheng made a key response. Han Zheng said that based on the basic national condition that the energy structure is dominated by coal, China will vigorously promote the clean utilization of coal, give full play to the role of market mechanism and government regulation, ensure the safety and stability of energy and power supply this year, and steadily and orderly promote carbon peak and carbon neutralization.
National Energy Administration: the pace of clean and low-carbon transformation of power system will be further accelerated
On April 24, entrusted by the national energy administration, the general electric power planning and Design Institute organized and held a national typical case and technology promotion meeting of "three transformation linkage" of coal and electricity at the main venue and live broadcast platform in Beijing. Yu Bing, deputy director of the national energy administration, said at the promotion meeting that China's resource endowment dominated by coal determines that coal power will still play an important role in ensuring China's energy and power security for a long time. Yu Bing pointed out that, on the one hand, coal power has played a role of "top beam" and "ballast" to ensure the safe and stable supply of electricity; On the other hand, with the proposal of China's carbon peak and carbon neutralization goals, the pace of clean and low-carbon transformation of power system will be further accelerated, the proportion of coal power installed capacity and power generation will be continuously reduced, and the flexible regulation capacity and clean and efficient level will continue to be improved. At present, the rigid growth of power demand, the increasing difficulty of power planning and layout, the construction of new power system and the changes of international situation have brought new challenges to the power industry.
Energy enterprise dynamics
In 2021, the world's top 40 mining listed companies and 8 Chinese companies were listed
PricewaterhouseCoopers recently released the mine 2021 great expectations, seizing tomorrow to calculate the top 40 global mining companies in 2021 based on the market value on December 31, 2020. The top three are still BHP Billiton, Rio Tinto and vale. There are 8 Chinese enterprises on the list, and China Shenhua ranks fifth.
National energy group social responsibility system released in Beijing
The "ESG China Forum 2022 spring summit" jointly hosted by the ESG special committee of China social responsibility hundred people forum and the national energy group was held in Beijing recently. On the day of the summit, the social responsibility system of the national energy group was released.
Peng Huagang, member of the Party committee and Secretary General of the SASAC of the State Council, stressed in his speech that the development of ESG in China has shown a rapid trend in recent years, but still faces many challenges. Regulatory agencies including the state owned assets supervision and Administration Commission of the State Council will continue to improve the ESG ecosystem from the macro management level. The release of the social responsibility system by the national energy group is an innovative exploration of central enterprises in social responsibility and ESG work. It is hoped that all central enterprises will continue to push through the old and bring forth the new, create more achievements, and work with all sectors of society to promote China's social responsibility and ESG cause to a new level.
National Energy Group Juneng group nano hydrocarbon fuel technology enables green and low-carbon development
Recently, the pilot operation of the project of "supporting circulating fluidized bed boiler transformation project for nano hydrocarbon fuel preparation of aluminum silicon powder" implemented by Juneng group, affiliated to the national energy group, has been successfully completed. A number of data have broken the industry bottleneck and explored a more efficient industrialization path for the preparation of aluminum silicon powder. The project was identified as "the first in the world and reaching the international leading level" by China Coal Industry Association.
Jungar mining area in Inner Mongolia has 26.7 billion tons of coal geological reserves, and its associated resources are enriched in alumina, gallium and silicon. It is an important national energy base. As one of the leaders, the national energy group zhuneng group has not stagnated in the traditional thinking of "relying on coal to eat coal", but based on the clean and efficient utilization of coal, layout in advance, start the development journey of circular economy industry and promote the transformation and upgrading of energy.
Re innovation achievements of main economic and technical indicators of coal industry
China's raw coal output reached 4.13 billion tons, a record high; The proportion of coal consumption in total energy consumption decreased to 56%; The situation of coal mine safety production continued to improve, and the death toll per million tons fell to 0.044; The National Coal Enterprises above Designated Size achieved an operating revenue of 3.3 trillion yuan and a total profit of 702.31 billion yuan. The quality and benefits of coal economic operation have been continuously improved, and a good start of the 14th five year plan has been achieved.
Change ideas and self revolution
In the process of promoting the "double carbon" war, coal will gradually change from basic energy to guaranteed energy and supporting energy, making room for the development of new energy. Standing at the new starting point of China's energy integration and "double carbon" strategy, the traditional development model of expanding scale, spreading and extensive development of the coal industry is unsustainable. We must adhere to the guidance of scientific and technological innovation, take the road of safe, efficient, green, low-carbon and intensive development, coordinate the relationship between supply guarantee and orderly exit, and coordinate the relationship between the development of new mining areas and ecological and environmental protection, Coordinate the relationship between the intelligent production of coal mines and the transformation and development of mining areas, and the relationship between the new pattern of coal industry development and the safety of the national industrial chain supply chain, so as to lay a solid foundation for the realization of the "double carbon" strategic goal and high-quality development.
Metallurgical coal demand is expected to improve, and overseas coal prices continue to rise
The coal sector rose 6.8% this week, leading the whole industry
From the fundamental point of view, different coal types show obvious differentiation. The power coal has a seasonal correction, and the demand for metallurgical coal is expected to continue to improve. In the process of reshaping the global coal trade pattern or under the new pattern, overseas coal prices are easy to rise but difficult to fall. At the same time, it can form a more powerful support for domestic coal prices, and domestic coal enterprises are expected to maintain a high boom.
Since the first quarter, prices have risen continuously and remained high, and trading sentiment has been rising
According to the first quarter report forecast currently released, the first quarter performance of each company exceeded market expectations. In the future, as listed companies release their performance one after another, the dynamic valuation of the sector is still low, and there is some room for repair. It is suggested to pay attention to Yankuang energy, Shaanxi coal industry and Shanmei International; It is suggested to pay attention to Pingmei Co., Ltd. and Lu'an environmental energy.
The tight supply and demand of power coal may be reduced, and the high boom of coking coal will continue
With the advent of the off-season of traditional consumption, the tight supply and demand of thermal coal may be reduced
In the first quarter, affected by the fluctuation of overseas energy prices, the price of fossil energy increased significantly year-on-year. Due to the growth of alternative demand caused by the sharp rise of natural gas prices and the influence of overseas extreme weather, the price of power coal operated at a high level. In the first quarter, the price of coal long-term association increased significantly year-on-year and remained in the range of 720-725 yuan / ton. On the supply side, from January to February, affected by the Spring Festival holiday, large-scale events, major conferences and other factors, the coal output decreased significantly month on month. The national development and Reform Commission made every effort to ensure the supply by adding 300 million tons of production capacity. The daily output is expected to gradually increase to the high level of the fourth quarter of last year in the second quarter. After April, the coal consumption will enter the traditional off-season, and the downstream is expected to weaken. With the gradual deepening of supply guarantee and the implementation scope of the long-term association The in-depth supervision of quantity and price is implemented, and the tight pattern of supply and demand in the first quarter is expected to slow down in the second quarter. In terms of coal price, the port price decreased significantly in late March, but we expect the tight supply and demand pattern to slow down, and the price is expected to fluctuate slightly after stabilizing in the second quarter.
In 2021, the dividend plans of some listed coal enterprises were disclosed, and a large proportion of dividends highlighted the investment value of the coal industry
Coal enterprises have benefited from the supply side reform, with continuous concentration of production capacity, relatively stable and efficient production capacity, steady rise of coal price center, continuous improvement of operating efficiency in the past three years, stable cash flow, continuous improvement of industry concentration in the future, and optimistic about the investment value of the coal industry under the high red rate.
Geopolitical conflicts continued to push up energy prices, and industrial capital expenditure continued to rise
Coal prices continued to rise
In terms of coal, as of March 29, the closing price of China's thermal coal futures was 841.20 yuan / ton, up 9.6% month on month and 13.8% year to date; The market price of q5500 thermal coal in Qinhuangdao port was 1500.00 yuan / ton, up 59.6% month on month and 89.9% year to date. The reduction in imports led to another rise in coal prices.
The growth rate of investment in the mining industry continued to rise
The completed amount of fixed asset investment in coal mining and beneficiation industry increased by 45.4%, and the growth rate rebounded sharply. The completed investment in fixed assets in the mining industry increased by 21.1%, and the growth rate continued to rise.
