Steel News Roundup

SHANGHAI, Sep 27 (SMM) - This is a roundup of news in the steel industry for last week.

China to apply more market-orient methods to stabilise commodity prices

Li Keqiang presided over an executive meeting of the State Council, demanding that cross-cycle adjustments should be carried out in an orderly manner to ensure the smooth running of the economy. The meeting said that it will apply more market-orient methods to stabilise commodity prices for power and natural gas supply in the winter. The new infrastructure construction plan during the 14th five-year period has also been approved at the meeting.

Xi Jinping: China will firmly facilitate the development of green and low-carbon energy in developing countries and will no longer build new overseas coal-based power projects

President Xi Jinping attended the general debate of the 76th UN General Assembly in Beijing by video on September 21, and delivered an important speech entitled To Enhance Confidence, Overcome the Difficulties and Build a Better World Together. Xi Jinping emphasised to improve global environmental governance, actively respond to climate change, and build a community that encompasses all human and natural lives. It is also important to accelerate the transition to a green and low-carbon economy. China will strive to achieve carbon peak by 2030 and carbon neutrality by 2060, which requires heroic hard works, and China will contribute all its efforts in order to achieve this goal. China will firmly facilitate the development of green and low-carbon energy in developing countries and will no longer build new overseas coal-based power projects.

Chairman of China Coal Processing and Utilisation Association talked about dual carbon strategy: To develop coal chemical industry and reduce carbon emissions in an orderly manner

Zhang Shaoqiang, chairman of the China Coal Processing and Utilisation Association, said that, “Under the dual-carbon goal, the coal industry must actively adapt to face the challenges brought about by carbon emission reduction. Coal mines with sound resource and equipment conditions as well as sophisticated management and safety guarantees shall take the lead in energy saving and carbon reduction to improve production efficiency while guarantee the supply. On the other hand, those mines with degrading resource conditions shall be reformed and upgraded, while those failing to meet national standards shall orderly exit the market. For mines with plans to terminate operations, it shall prepare for asset transfer as soon as possible to make good wise use of the remaining assets. More importantly, the coal industry must keep up with the development of green and low-carbon economy, and increase the application of clean conversion of coal.”

The latest situation of the COVID-19 pandemic as of 24:00 on September 23

From 0-24:00 on September 23, 31 provinces (autonomous regions and municipalities) and the Xinjiang Production and Construction Corps collectively reported 54 newly confirmed cases. Among them, 24 were imported cases (13 in Yunnan, 9 in Shanghai, 1 in Fujian, and 1 in Guangdong); 30 were local cases (15 in Harbin, Heilongjiang; 15 in Fujian, including 11 in Xiamen and 4 in Putian). As of 24:00 on September 23, according to the reports from 31 provinces (autonomous regions and municipalities) and the Xinjiang Production and Construction Corps, there are altogether 1,009 confirmed cases (including 16 severe cases), a cumulative total of 90,303 cured and discharged cases, a cumulative total of 4,636 deaths, and a cumulative total of 95,948 confirmed cases that have been reported. And there are currently 2 suspected cases.