Home / Metal News / [SMM Steel Market Morning News] New unit of China's largest thermal power plant under construction put into operation, with annual power generation of 6 billion kWh per unit

[SMM Steel Market Morning News] New unit of China's largest thermal power plant under construction put into operation, with annual power generation of 6 billion kWh per unit

iconJul 7, 2025 07:35
Source:SMM
According to CCTV News, currently, central and eastern China are experiencing the strongest heatwave process so far this year, driving a rapid increase in electricity demand. On July 4, the national maximum electricity load reached 1.465 billion kW, hitting a record high...

★Macro★

01 ★★ [China's Largest Coal-Fired Power Plant Under Construction Starts New Unit Operation with Annual Generation Capacity of 6 Billion kWh]

According to CCTV News, central and eastern China are currently experiencing the strongest heatwave of the year, driving rapid growth in electricity demand. On July 4, the national peak power load reached 1.465 billion kW, a record high. China Energy Investment Corporation announced that Unit 8 of Zhejiang Beilun Power Plant - the largest coal-fired power plant under construction in China - commenced commercial operation today after completing 168-hour full-load trial operation, providing additional power supply assurance during the high-temperature period.

02 ★★ [Global Manufacturing PMI at 49.5% in June with Asia Remaining in Expansion Territory]

The China Federation of Logistics and Purchasing (CFLP) released June's global manufacturing PMI data today (July 6). The index remained in contraction territory at 49.5% but increased 0.3 percentage points MoM, marking the second consecutive monthly rise and indicating recovering global economic momentum. Despite ongoing uncertainties from US tariff hike policies and geopolitical conflicts, the Asian manufacturing PMI reached 50.7% in June, up 0.3 percentage points MoM. Asian manufacturing continued operating in expansion territory, effectively supporting global economic recovery with positive developments observed across major regional economies.

03 ★★ [Ministry of Housing and Urban-Rural Development: Sustaining Stable Real Estate Market Conditions]

A Ministry of Housing and Urban-Rural Development research team recently conducted surveys in Guangdong and Zhejiang provinces. The team emphasized the importance of maintaining stable, healthy, and high-quality real estate market development. Local authorities should fulfill their responsibilities, fully utilize regulatory policy autonomy, implement targeted measures, and enhance systematic policy effectiveness to sustain stable market conditions. The team required accelerated construction of "quality housing" featuring safety, comfort, greenness, and intelligence to meet new public expectations. Multi-pronged efforts should be made to stabilize expectations, activate demand, optimize supply, and mitigate risks, with greater intensity to halt market decline and stabilize prices.

 

★Industrial & Downstream Sectors★

01 ★★ [National Rural Road Fixed-Asset Investment Exceeds 130 Billion Yuan in First Five Months]

Data from the Ministry of Transport shows that from January to May, China completed 131.16 billion yuan in fixed-asset investment for rural roads, constructing/rebuilding 28,000 kilometers of rural highways and renovating 1,424 dilapidated rural bridges. As of now, China's rural highway network spans over 4.6 million kilometers, accounting for nearly 85% of the country's total road mileage, forming an extensive network connecting rural and urban areas.

02 ★★ [Shanghai's Secondary Housing Market Records 116,000 Transactions, Up 24% YoY, January-June]

According to data from Shanghai Lianjia, from January to June 2025, the cumulative transaction volume of primary and secondary housing in Shanghai reached 13.11 million m², up 17% YoY, marking the highest level for the same period since 2022. Specifically, secondary housing transactions totaled 9.85 million m² (116,000 units), up 24% YoY, also setting a new record for the period since 2022. Monthly performance showed a "stronger-than-usual off-season" in January-February, with the "Golden March and Silver April" trend evident. March's "mini spring" saw 26,700 secondary housing transactions in Shanghai, the highest monthly figure since March 2021. May and June maintained stability, with monthly trading volumes consistently above the 50 mark at 15,000 units.

 

★Other Hot Topics★

[17th BRICS Summit Opens in Rio de Janeiro] According to CCTV News, the 17th BRICS Summit officially commenced in Rio de Janeiro, Brazil, on the morning of July 6 (local time) for a two-day duration. Themed "Strengthening Global South Cooperation for More Inclusive and Sustainable Global Governance," the summit focuses on six key areas: global health, trade and investment development financing, climate change response, AI governance, global security architecture reform, and BRICS institutional development.

[Typhoon Danas Expected to Land or Brush Taiwan's Western Coast Tonight] Danas intensified from a severe tropical storm to a typhoon this morning. As of 13:00 on July 6, it was located approximately 180 km west-southwest of Kaohsiung, Taiwan, moving north-northeast at 10-15 km/h with increasing intensity. Danas may make landfall or graze Taiwan's western coast tonight, entering the southwestern East China Sea by July 7 before approaching coastal areas from northern Fujian to central-southern Zhejiang. Over the next three days, parts of China's coastal waters will experience winds of 9–11 grades, gusting to 12–13 grades, with heavy to torrential rain expected in Guangdong, Fujian, and Zhejiang. The Central Meteorological Observatory maintained a yellow typhoon warning today.

[Divergent EU Stances on US Trade Talks, German Media Pessimistic About Prospects] Per CCTV News, Germany's Handelsblatt published a commentary on July 6 (local time) stating that EU-US negotiations on a new trade arrangement have reached a critical phase. Germany and Italy pushed for a swift agreement due to their export-dependent tendencies, while France, Spain, Denmark, and others expressed concerns about potential concessions. The EU's diverging stances on trade with the US have become increasingly apparent, with negotiations progressing slowly and the outlook remaining bleak. The article notes that although European Commission President Ursula von der Leyen emphasized the desire to reach a "framework agreement" to prevent the implementation of new US tariff measures, multiple parties fear the EU may be forced under pressure to accept an "unequal" deal. Several diplomats bluntly stated that the current negotiation outcome could prove unfavorable for the EU as a whole.

[Musk Announces Founding of "America Party"]According to CCTV News, on July 5 local time, US entrepreneur Elon Musk posted on social media platform X, announcing the establishment of the "America Party" that day to "return freedom to the people."

[Trump Announces New Tariffs Effective August 1, with Maximum Rates Potentially Reaching 70%]According to CCTV News, on July 4 local time, US President Donald Trump stated that the US government would begin sending letters to trading partners that day, setting new unilateral tariff rates. Trump claimed the new tariffs would "most likely" take effect from August 1. He said the US would send letters to multiple countries starting that day, with "10 or 12" expected to be dispatched initially and more in the following days. Trump predicted all letters would be delivered by July 9, which he had previously set as the deadline for tariff negotiations. Regarding the new tariffs, Trump stated, "Tariff rates could range from 60%, 70% down to 10%, 20%." He added, "We've finalized the (letter) text, which will essentially specify what tariffs these countries will pay."

[National Power Load Exceeds 1.4 Billion kW, Hitting Record High]According to the National Energy Administration, recent persistent high temperatures across China have driven rapid growth in electricity demand. On July 4, the national power load reached a historic peak. Statistics show that the maximum power load on July 4 hit 1.465 billion kW, up approximately 200 million kW from month-end June and nearly 150 million kW higher year-over-year, setting a new record. The east China power grid load reached 422 million kW, with air conditioning accounting for about 37% of the load. Since summer began, provincial grids in Jiangsu, Shandong, Henan, Anhui, and Hubei have set new records nine times.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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

SMM Events & Webinars

All