| | According to reports, since 2010, U.S. coal production, consumption, export structure has undergone significant changes in coal production in the United States to maintain 2009 levels basically unchanged, consumption continued downward trend since 2009, continued to decline, the excess coal increased exported. 2011 United States produced 1.07 billion tons of coal consumption is only about 960 million tons, exports reached a record high of 97 million tons. In 2011 the United States began to decline in coal consumption, the current U.S. domestic thermal coal prices coal major crossroad average 50 U.S. dollars / ton, equivalent to ¥350 / ton, the price of coal trade can reach 70 U.S. dollars / ton, equivalent to ¥490 / ton, the domestic coal prices have reached critical line coal costs. U.S. coal sales from the current price, not only lower than China’s coastal areas important coal trade center, but also a lot lower than the Chinese coal producing areas of the coal sales price. U.S. coal enterprises are facing either to extend the scale of coal exports, crowding the international market, or the compression capacity to achieve balance between supply and demand situation.
In nearly a decade of operation of the coal market, especially in the coal industry, coal-fired power struggle in the process, many of my friends say that China’s coal price is much higher than the U.S. price of coal, in the past I also understand, I study coal market, coal prices for the domestic and foreign market more clearly, I am well aware of this issue.
In a market economy is relatively developed in the case, why Chinese coal prices will be more substantial than in the U.S., there is such a disparity on the difference between the price of coal, it is worth considering. Why does this happen? Here talking about some of the thinking and perception.
First, China and the U.S. coal prices really poor, Chinese coal prices coal prices much higher than the U.S.
From China’s major coal producing coal sales price, to an important trade center in the price of coal, China’s coal sales price far higher than the U.S. average trading price of coal.
Shanxi is China’s most important coal production base, just below the Inner Mongolia coal production, coal production is the highest among the nation’s provinces and second, its coal price level has great representation. According to the Web site reported that Shanxi coal mining in Shanxi province in 2011 produced a total of 872 million tons of coal sales revenue ¥466.7 billion, ¥535.2 per ton of coal sales price, not including the state-owned coal enterprises run, run, drip, leak, various link individuals to receive personal gain various points fares, commissions and other expenses, the price level, not only far higher than the U.S. average price of thermal coal coal main distribution center ¥350 / ton, the price level, but much higher than the U.S. Foreign coal average ¥490 / ton price level.
Bohai coal prices this year and has decreased substantially compared to last year, according to Qinhuangdao coal network reported, this report period (of 2012 April 18 to April 24), the Bohai Rim port 5500 kcal heat Market Dynamics combined average closing price of coal ¥787 / ton, compared with the previous reporting period rose ¥2 / ton. Bohai mainstream market trading price of thermal coal are: heat of 5500 kcal / kg thermal coal market: in Qinhuangdao Port, Caofeidian port, SDIC Jingtang Port, Jingtang Port, Tianjin Port and Huanghua Port mainstream transaction prices were reported closing 780-790 yuan / ton , ¥780-790 / ton , ¥780-790 / ton , ¥785-795 / ton , ¥780-790 / ton and ¥790-800/ ton. Calorific value 5000 kcal / kg thermal coal market: in Qinhuangdao Port, Caofeidian port, SDIC Jingtang Port, Jingtang Port, Tianjin Port and Huanghua Port mainstream transaction prices closed at ¥680-690 / ton , ¥675-685 / ton , ¥680-690 / ton , ¥685-695 / ton , ¥680-690 / ton and ¥695-705 / ton.
As China’s coal price two-tiered system, focusing on contract coal prices are generally more substantial than the market price of coal, but it is certain that the overall price level is still much higher than the U.S. coal price levels.
From domestic coal prices, since the fourth quarter of last year although there have been more substantial decline, however, and the U.S. coal prices comparison, domestic coal prices far more than U.S. coal trading prices, which undoubtedly domestic coal market, a huge downward pressure on prices.
Second, China’s coal price is much higher than the international coal prices, resulting in a substantial increase in imports of coal, coal exports significantly reduce
In recent years, China’s coal exports dropped significantly, and imports rose substantially, although this should be the impact of China’s industrial policy, more importantly, by market factors, coal prices should be determined most import and export volume of coal root cause. As China’s coal price is far higher than the international coal prices, coupled with the uneven distribution of coal resources, coal production capacity by the government too much human intervention, resulting in China’s coal imports increased year by year, while decreasing the amount of coal exports from traditional coal net exporter, into a net importer of coal, in 2011 to become the world’s largest coal importer.
China General Administration of Customs website February 11, 2009, according to customs statistics, in 2008 China imported a total of 4,040 coal tons, worth $ 3.51 billion, respectively, compared with last year (the same below) decreased 20.8% and an increase of 44.9%; import average Price $ 86.8 / ton, up 83%. The same period, China’s total exports of 45.43 million tons of coal, valued at $ 5.24 billion, down 14.6% and an increase of 58.9%; export average price of 115.3 U.S. dollars / ton, up 86 percent, the annual net exports of coal 503 million tons. Coal imports declined mainly due to the world financial crisis caused by the.
According to the General Administration of Customs released data show that in 2009 net imports of more than one hundred million tons of coal. Data show that from January to December 2009, imports of 125,834,000 tons of coal, an increase of 211.9%. 1 to 12 months, exports of 22.4 million tons of coal, down 50.7 percent. 2009 China’s net imports of 103,434,000 tons of coal. Before this, China has been a net exporter of coal. 2009 year China exported 22.4 million tons of coal, compared with 2008 decreased by 50.7% compared to coal exports dropped significantly, and the increase in coal imports in 2009 for the first time makes our country became a net importer of coal. Overall, the 2009 coal exports fell for two main reasons, one experienced in 2008 after the global economic crisis, overseas coal demand plummeted; Second, according to China’s relevant policies and requirements, adjust the coal export strategy to reduce coal resource exports volume.
According to China Customs Statistics Information Center released data show that China’s coal imports in 2010, compared with 2009 growth of 30.9% to 1.6478 million tons. China General Administration of Customs released preliminary statistics show that in 2010 China’s total exports of 19.03 million tons of coal, compared with 2009 decreased by 15%, coal exports continue to maintain a downward trend. In addition, the coke exports are exports rose 513.5% to achieve.
National Development and Reform Commission released data show that in 2011 the year China imported 182 million tons of coal, an increase of 10.8%; export coal 14.66 million tons, down 23%; net imports of 168 million tons, an increase of 15.2%.
According to "The Wall Street Journal" reported that the Chinese and Japanese export data released by the Government show that in 2011 China overtook Japan to become the world’s largest coal importer. China General Administration of Customs released data show that in 2011 China’s coal imports rose 11 percent to 182.4 million tons; while the Japanese Ministry of Finance January 25, 2012 released data show that in 2011 Japan imported 175.2 million tons of coal, reducing by 5.1% . Japan’s coal imports decline is mainly due to weak global economic growth hit the iron and steel production, and last year’s earthquake and also the small northeastern Japan, an important result in the destruction of coal-fired power plants.
According to the General Administration of Customs released data show that a quarter of China’s total imports of coal (including lignite) was 61.73 million tons, compared with last year’s fourth quarter decreased 11.16 million tons, down 15.3 percent; compared to the first quarter of last year increased 23.86 million tons, an increase of 63.0 %. Compared with last year’s fourth quarter, the first quarter of this year, mainly from Indonesia’s coal imports decreased. The reason is mainly because of generally low quality of coal in Indonesia, when the domestic coal market demand weakened, low-quality coal demand will be the first. And coal imports continued to maintain a high level compared to coal exports continued to decline. Customs data show that the first quarter of this year, China’s coal exports totaled 3.2 million tons, compared with the first quarter of last year to reduce 2.58 million tons, down 44.7%. China first-quarter coal production totaled 838 million tons, an increase of 5.8%.
China’s coal imports increasing exports declining, will increase the domestic coal market, coal supply, increasing the intensity of competition in the domestic coal market.
Three, resulting in China’s coal price is much higher than the price of U.S. coal Cause Analysis
Our country is developing, labor costs are not too high, why coal prices will be far higher than the U.S. price level, I think the main reason is as follows:
First, integration of coal resources, coal industry to improve the relative degree of monopoly
On the one hand, due to the integration of coal resources and carried out the merger and reorganization of coal enterprises, eliminate backward production capacity with remarkable results. Accordance with the "integration-based, supplemented by the new" approach, accelerate the consolidation and integration of resources closure of small coal mines and yield drastically reduced. The national total of 9,616 small coal mines closed, eliminate backward production capacity 540 million tons. In 2010, the annual production capacity of 300,000 tons of small coal mines decreased to 10,000 or less, production rose from 45% in 2005 down to 22%.
On the other hand, the rapid development of large coal enterprise groups. Have established a number of regional large coal enterprise groups, the formation of coal, coal chemical downstream industries such as integrated development pattern. Shanxi, Henan and other provinces merger and reorganization of small coal mines made significant progress. 2010, enterprises above 47 million-ton, 63% of the country’s total production. Among them, five hundred million tons of large enterprises, yield 25%, compared with 2005 increased 4, increase the proportion of 19 percent yield; 5000 tons of large enterprises 10, yield 19%, compared with 2005 increased 7 , the proportion of yield increase of 11 percentage points. With the large number of small and medium private mines eliminated coal enterprises mergers and acquisitions, the coal industry has increased the relative degree of monopoly, competition in the industry has been weakened, and the relative monopoly industries in order to maintain an appropriate industry profits, often develop a relative monopoly characteristics slightly higher than the normal market price of the monopoly price.
Second, the state-owned coal enterprise management is lax, leaking increased coal production costs
From the point of view of state-owned coal enterprises, poor management, abuse of power, inefficient, leaking situations are different levels of existence, which varying degrees of increased coal production costs, and promote the coal prices.
Three is too much government intervention in the market, resulting in high production costs of coal
Now, thanks to local protectionism, coupled with tight coal supply in recent years, coal production efficiency is high, some of the coal producing areas of the province, the government adopted a series of measures to collect coal resource fees, security fees, charges out of the province, price adjustment fund, the Sustainable Development Fund, coal tickets and other expenses, as well as a variety of names fines, arbitrary charges, although the NDRC and other relevant departments of repeated orders to cancel all kinds of unreasonable charges, however, is still on a policy, A response, arbitrary charges in various regions exist in varying degrees.
Four areas far away from the coal supply and demand, resulting in high cost of logistics and transport
China’s coal resource distribution is very uneven, production areas and consumption areas farther and farther away, the layout of the contradiction between production and consumption increasingly intensified. Increasing depletion of coal resources in the eastern, yield atrophy; Central constrained by resources and the environment intensified conflicts, increased net coal transferred Province; resource development to accelerate the transfer of fragile ecological environment of the west, had premature use of strategic reserve resources. The main production areas from coal Shanxi, Inner Mongolia, Shaanxi, Guizhou and other provinces going to the economically developed eastern, central and southern regions, ranging from a few hundred kilometers, as many thousands of kilometers, long distance transportation, working links, transport difficulties large. With economic development, China’s west-east coal, coal from north to south lose increasing pressure, coal production and transportation costs continue to rise.
Fifth, railways, highways, oil industry monopoly to push up consumer prices of coal terminal
Our country’s railways, highways, oil industry are the monopoly industries, the use of monopoly industries generally cost far more than the non-monopoly industries, monopolies excess profits are achieved through the extraction of non-monopoly industries, due to coal trading, coal transportation from the non- On railways, highways, oil industries that use high product costs, undoubtedly push up coal transportation and transaction price. The railway, because the tension in railway transportation, transportation bottlenecks still not resolved, the railway and the relevant departments of the units and individuals with a relatively tight rail capacity, under different names fees charged by railway wagon plans, point fares, site fees, private line fees, charges, etc. across the river, and sometimes from the Inner Mongolia Baotou transported to Qinhuangdao railway plan fees, points and other improper charging fares are up 70 yuan / ton, but can not guarantee wagon got, nominally rail transport than road transport much cheaper, sometimes coupled with various arbitrary charges, transport costs and road transport is similar to the advantages of rail transport is basically not manifest. On road transport, the world has built 140,000 kilometers of toll roads, 100,000 km in our country, 95% of highway, a highway for 65% of all toll roads; toll stations set unreasonable, some spacing only a few kilometers. According to the World Bank released a study report revealed that China’s highway tolls one of the highest in the world, highways become "high road." But because of "operational roads" Pay period may be extended to 30 years, some local governments to bring local government rent-seeking space to become an "ATM."
Flood toll road mode means profits for local governments, China is the world’s tallest bear transportation and logistics costs; transport sector The phenomenon of corruption, the parties raised investment profit model has become increasingly apparent conflicting interests which impede transport industry side. If some regions and units and individuals rely on highway arbitrary charges become rich, unscrupulous charge exorbitant road tolls, even if passed, regardless of the set no toll stations, truck there is no violation, there is no security risk, bridge fees, tolls, traffic arbitrary charges, traffic fines, etc., must leave money, goose plucking become the norm highway arbitrary charges. Although expensive highway tolls, but because ordinary road overcharged site Carlin stand pipe, in order to avoid the terrible fines, arbitrary charges, a lot of expensive cars can only swallow highway to go, but did not dare take the normal road, so road transport logistics costs are high is straightforward. Due to energy shortages, China’s oil imports a large amount of relatively high dependence on the international market, coupled with the oil industry monopoly, monopoly prices developed by the oil industry to reap oil profits much higher than non-monopolistic industry profits, according to reported that the price of oil in U.S. dollars per gallon, the United States was $ 3.89, China was $ 4.01 a gallon, but China’s economic development level and income levels far below the United States, will increase oil consumption expenditure; As oil prices continue to rise, no doubt the car caused a greater impact on transportation of coal, motor transport fuel consumption costs are also rising. Railways, highways, oil industry monopoly, pushing up the overall logistics costs throughout the coal trade, pushing up the price of coal trading.
Abuse of power, corruption, trade, further elevating the trading price of coal
With the changes in the coal market, coal profits overall point of view is still relatively high, to coal traders brought not just as simple to bring the legitimate interests of the middlemen, dual pricing system as coal, coal and market coal contract not a small difference between the coal adulteration huge profits, long-term development gradually formed an internal personnel mines, power plants and other coal companies need internal staff and internal transactions between coal dealer chain. And this chain of transactions is built on one another to maintain the "relationship" and "benefit" based on. State-owned coal producer, consumer customers, private coal traders often collusion, purchase, sales persons concerned abuse of power companies to post self-serving, received huge tips, rebates, traders secret operations contributed to the last fat individuals harmed country, pushing up the coal trade and consumer prices.
The United States is relatively developed market economy countries, relatively complete market economy, commodity prices more in line with market economy requirements. U.S. coal sales price is lower than China, which means China’s coal production costs can also be compressed coal sales price can be reduced, in the maturing market economy system, the coal market is weak, product oversupply in the market situation has formed in the case of coal prices downward pressure is likely to further increase, coal sales prices are likely to fall further, which the coal companies will intensify competition in the market, business efficiency will decline; key users of coal power enterprises, metallurgical and chemical enterprises will be reduced Production consumption, lower production costs, improve economic efficiency, is undoubtedly a good news.
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