Industry Breakthrough: Shougang Qian'an Iron & Steel Sells 1.487M Tonnes of Carbon Credits for RMB 143M, Boosting Profits by RMB 100-120M

Published: Sep 12, 2024 11:57

Save

[Industry's First Deal: Shougang Qian'an Iron & Steel Transfers Carbon Emission Allowances of 1.487 Million Tonnes for RMB 143 Million]

Shougang Shares announced on September 10 that Qian'an Iron & Steel Company signed the "Carbon Emission Allowance Transaction Agreement and Transfer Contract" with multiple transferees, transferring a total of 14,871,690 tonnes of CCERs (China Certified Emission Reductions) at an average transfer price of RMB 96.00 per tonne (tax included), resulting in a total transfer payment of RMB 142.77 million. This transfer of CCERs is expected to impact the company's profits by approximately RMB 100 to 120 million. (Source: Shougang Shares)

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 hours ago

[SMM Hot-Rolled Coil Daily Trading] Spot Cargo Moved Sideways

[SMM Hot-Rolled Coil Daily Trading] On May 21, the combined daily trading volume of hot-rolled coil from SMM's sample enterprises across four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 13,760 mt, up 160 mt DoD (+1.2%), up 30.06% YoY (solar calendar), and up 26.70% YoY (lunar calendar).

9 hours ago

Silicon Metal Prices Moved Sideways, Focus on Operating Rate Changes on Both Supply and Demand Sides [SMM Silicon Industry Weekly Review]

[Silicon Metal Prices Shift to Move Sideways, Attention on Operating Rate Changes on Both Supply and Demand Sides]: At the beginning of the week, spot silicon metal prices edged lower in a narrow range before shifting to move sideways. As of May 21, SMM east China oxygen-blown #553 silicon was at 9,100-9,200 yuan/mt, down 150 yuan/mt WoW, and #441 silicon was at 9,300-9,400 yuan/mt, down 150 yuan/mt WoW. The futures market center shifted lower WoW. On Thursday, the most-traded SI2609 contract closed at 8,440 yuan/mt, down 215 yuan/mt WoW, with open interest at 308,000 lots, a WoW decrease of 7,000 lots. In terms of market transactions, as futures weakened at the beginning of the week, some downstream buyers and traders increased their rigid demand purchases, and the market transaction center moved lower WoW. Fundamentals side, both supply and demand of silicon metal are expected to increase in June. Supply side, the main driver is the increase in operating rates of silicon enterprises in Sichuan and Yunnan during the rainy season. Demand side, the main factor is production resumption expectations of individual polysilicon enterprises.

9 hours ago

[SMM Sheets & Plates Daily Review] Limited Downside for Short-term Sheets & Plates Prices

Today, the most-traded HRC contract rose first then fell, closing at 3,394 at the end of the session, down 0.59% intraday. HRC spot prices mostly declined 10-20 yuan/mt today, with some markets remaining stable. In terms of supply, weekly hot-rolled production was 3.1739 million mt, up 19,700 mt WoW, with supply pressure relatively neutral. Demand side, morning transactions were moderate, while afternoon futures decline weakened market transactions. Cost side, after macro front disturbances eased, short-term cost support was limited. Looking ahead, overall HRC inventory will continue to decline, with total inventory down 161,300 mt WoW this week. The supply-demand imbalance showed divergence, with inventory in east China and northern regions continuing to decline while ...

9 hours ago