In recent years, the global steel market has become a multidimensional and complex market with many uncertainties. Important factors play a role in this market. China has been a leader in global steel market change and policy in recent years. In recent years, the country’s economic and political movements have greatly influenced the global steel market. China’s energy crisis has hit the steel market more seriously than ever before. In this note, we will address the most important issues related to these two factors. Please be with Artan Press.
*** China’s energy crisis and rising coal prices
China’s energy crisis in recent months, due to a number of factors, including a sharp jump in coal prices and rising demand, has led to side effects in all types of Chinese plants, some of which have reduced production or stopped production altogether. has done. Industry owners predict that the situation could get worse as winter approaches. One of the reasons why China has sought to suppress the price of raw materials in the energy sector has been to pay attention to this issue and the crisis.
*** Production halt due to electricity constraints in Chinese industries
Factory production is being challenged by production cuts due to electricity constraints. Experts say Chinese authorities are taking new measures; Including suppressing high coal prices; To ensure a steady supply of electricity. These methods do not currently work to contain China’s energy crisis. But this trend has increased uncertainties and the risk of investing in energy.
*** Receive a warning under the pretext of irrational electricity consumption in China
A textile factory in east China’s Jiangsu Province received power outages on September 21 from local authorities. The plant will be without electricity until October 7 or even later. This has happened to several similar factories. It seems that the madness of production in this country has intensified the energy crisis in China. “We were definitely affected by the power outage,” Wu, a factory manager, told the Global Times on Sunday.
“Production has stopped, orders have been suspended and all 500 of our workers have been laid off for a month.” There are more than 100 companies in Dafang District, Yantian City, Jiangsu Province that are facing such a problem, he said.
**** China’s energy crisis due to early coronary recovery
Lin Bukiang, director of the China Energy Economics Research Center at Xiamen University, told the Global Times that one possible reason for the power shortage was that China was the first country to recover from the Quid 19 epidemic and increase export orders. In a way, early release from the Rona crisis can be considered the main cause of China’s energy crisis. As a result of the economic recovery, total electricity consumption in the first half of the year increased by more than 16 percent compared to last year and reached its highest level compared to long years.
*** Rising prices of steel and industrial products due to the Chinese energy crisis
Due to high demand, prices of commodities and raw materials for basic industries such as coal, steel and crude oil have risen around the world. “This has pushed up electricity prices,” Han Xiaoping, chief analyst at China Energy Industry Website, told the Global Times on Sunday. It is now natural for coal-fired power plants to lose money by generating electricity. This is where no investment for national purposes is willing to be sacrificed. Economic issues come first in China. This will exacerbate China’s energy crisis. At present, some even try not to generate electricity to avoid economic losses.
*** Old structure of Chinese power plants
Internal industry analysts predict that the situation may worsen before it gets better. Because the inventory of some power plants is insufficient as winter approaches rapidly. Coinciding with a limited supply of electricity in winter, the National Energy Agency recently held a meeting to establish guarantees for coal and natural gas production and supply this winter, as well as next spring, to ensure electricity supply in the hot season. The old structure of power plants in China seems to have paved the way for China’s energy crisis. In Dangwan, the hub of global production in South China’s Guangdong Province, power shortages have put companies such as the Dongguan Yuhong wood industry in dire straits.
*** Official narratives of the production situation of Chinese industries
The company’s wood and steel processing plants face restrictions on electricity use. An employee named Zhang told official news outlets that production was banned from 8 a.m. to 10 p.m., and electricity had to be stored to support people’s daily lives. Work could only be done after 10 p.m., but work may be required. It is not safe until late, so the total working hours are reduced. It seems that the total capacity of the production units is reduced by about 50%. With unprecedented resource shortages and burdens, standards have prompted some industries to reduce their consumption.
*** Request to reduce consumption
Guangdong on Saturday issued a statement urging high-profile industry users such as government agencies, institutions, shopping malls, hotels, restaurants and entertainment venues, especially during peak hours; Control power consumption. The announcement also asked people to adjust the air conditioning to 26 degrees Celsius or higher. With high coal prices and shortages of electricity and coal, there is also a shortage of electricity in northeastern China.
Energy quotas began in many parts last Thursday. The entire electricity grid in the area is in danger of collapsing and residential electricity is limited. Despite the short-term problems, industry experts say that in the long run, the restrictions will enable power producers and generating units to participate in China’s carbon reduction proposal amid the country’s industrial transformation from high consumption to low consumption.
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