On March 30, the website of China Coal Industry Association released the 2021 annual report on the development of the coal industry (hereinafter referred to as the report). The report said that in 2022, the quality of the national coal supply system was improved, the supply elasticity was enhanced, the coverage of medium and long-term coal contracts was expanded, the supervision of medium and long-term contract performance was continuously strengthened, the overall market expectation was stable and good, and the guarantee capacity of coal transportation was continuously improved, It is expected that the supply and demand of the coal market will maintain a basic balance. However, the current international energy supply and demand situation is complex. Affected by uncertain factors such as safety and environmental protection constraints, repeated epidemics, extreme weather, hydropower and new energy output, there may also be tight or loose coal supply and demand in a regional, periodic and diversified manner.
Looking back on the reform and development of the coal industry in 2021, the report said that remarkable achievements have been made in ensuring the supply and price of coal; Further optimize the layout of coal intensive development; The construction of modern coal industry system has made positive progress; Continuously improve the leading ability of scientific and technological innovation; The pace of clean and efficient utilization of coal has been accelerated; Steady progress was made in the reform of coal marketization; Remarkable achievements have been made in the construction of ecological civilization in the mining area; The situation of coal mine safety production continued to improve steadily.
The report mentioned that the main economic indicators of the coal industry will reach a new high in 2021. China’s raw coal output reached 4.13 billion tons, a record high. The proportion of coal consumption in total energy consumption decreased to 56%. The National Coal Enterprises above Designated Size achieved an operating revenue of 3.3 trillion yuan and a total profit of 702.31 billion yuan.
Specifically, in terms of coal supply, first, China’s output hit a record high. In 2021, the national raw coal output was 4.13 billion tons, a year-on-year increase of 5.7%, and the raw coal output of coal production enterprises above designated size was 4.07 billion tons, a year-on-year increase of 4.7%; Second, the coal import volume increased. In 2021, the national coal import volume was 323 million tons, a year-on-year increase of 6.6%, a new high since 2013. The export of coal was 2.6 million tons, a year-on-year decrease of 18.4%, and the net import of coal was 320 million tons, a year-on-year increase of 6.8%; Third, the coal operation capacity was improved, and the national railways shipped more than 2.58 billion tons of coal, a year-on-year increase of 8.8%. The seven ports around the Bohai Sea shipped more than 800 million tons of coal, a year-on-year increase of 8.7%.
In terms of coal consumption, according to the data of the National Bureau of statistics, the national coal consumption increased by 4.6% year-on-year in 2021. In terms of coal inventory, by the end of December 2021, coal enterprises nationwide had stored 58 million tons of coal, an increase of 5.6% over the beginning of the year.
In terms of coal price, first, the coal medium and long-term contract system shows the role of stabilizing the price. In 2021, the annual average price of medium and long-term contract of thermal coal (5500 kcal of water coal) was 648 yuan / ton, up 105 yuan / ton year-on-year, which remained relatively stable and played the role of “ballast” to ensure supply and stabilize the price; 2. The spot price in the coal market fluctuated, and the price peak valley difference reached about 1900 yuan / ton during the year; III. The price of coking coal rose sharply. The annual average price of some main coking coal long-term association contracts in Luliang, Shanxi Province was 1609 yuan / ton, up 273 yuan / ton year-on-year. The comprehensive selling price of Shanxi Coking, fertilizer and clean coal of cctd was 2326 yuan / ton, up 1017 yuan / ton year-on-year; (IV) the international coal market prices have risen sharply. Due to the shortage of overall energy supply, the average annual FOB prices of coal in Australia, Russia and Indonesia have increased by 133%, 116% and 138% respectively year-on-year.
In terms of industrial benefits, in 2021, the revenue of Coal Enterprises above designated size was 328966 billion yuan, a year-on-year increase of 58.3%; The total profit was 702.31 billion yuan, a year-on-year increase of 212.7%. In terms of fixed asset investment, the fixed asset investment in coal mining and washing industry increased by 11.1% year-on-year. Among them, private investment increased by 9.2% year-on-year.
The report summarizes several thoughts on promoting the high-quality development of the coal industry in the future. First, make every effort to do a good job in the safe and stable supply of coal; Second, actively explore the development path of coal dual carbon strategy; Third, further promote the structural reform of coal supply side; Fourth, focus on improving the supporting capacity of scientific and technological innovation; (V) further promote the optimization and upgrading of the coal industry; Sixth, accelerate the clean and efficient development and utilization of coal.
