July 4 – China's recent elimination of the coal production permit and the coal operation permit may not necessarily lower the entry barriers for coal producers as the approval of the coal mining permit, the foremost one, remains controlled by the National Development and Reform Commission.
Source: JPMorgan China/Hong Kong Daily Views
July 3 – The Bohai Rim Steam Coal Price Index that measures 24 categories of coal dropped 1.2% week on week to 596 yuan per ton in the week through June 30, 2013, marking a 6% year-to-date decline and the biggest weekly drop since August 2012. Weak power demand, high inventory and cheaper imported coal were the causes.
Source: JPMorgan China Power Sector
July 3 – Cement prices were largely flat in China in the week through June 30, 2013, up 0.08% week on week driven by a 0.42% increase in southern and central China, where cement prices were cheaper. Cement prices in eastern China bucked the downtrend and regional cement producers suspended production for June to July to prevent the relatively high prices from falling. Nationwide cement inventory edged up 0.3 percentage points to 68.7% during the week.
Source: HSK China Cement Weekly
July 3 – China's refined copper imports are expected to rise in June and into Q3 2013, driven by a combination of regulation-induced substitution from entrepot to conventional import financing and a healthy baseline of "real" demand. Should Chinese copper imports rise strongly, there is a risk that China heads into 2H 2013 with higher domestic stocks as domestic physical premiums have already fallen sharply, suggesting the market is struggling to absorb all the additional material.
Source: Barclays Base Metal Flash
July 2 – China's oilseed imports will grow in the next 12 months as bad weather cut domestic supply. China's oilseed output is estimated to hit a multiyear low of 48 million tons in the 2013/14 crop year. China is estimated to have imported at least 8 million tons of soybean in June, up substantially from the 5.6 million tons recorded a year earlier.
July 2 – The Chinese government's target of 6.5 billion cubic meters of annual shale gas production in 2015 – 2% of total gas production – will not likely be met due to a shortage of experienced technical personnel. China only produced 500 million cubic meters of shale gas in 2012. China has the largest technically recoverable reserves of shale gas in the world – as much as Canada and the US combined.
Source: Financial Times
July 2 – China consumed 18.73 million tons of coal in 2012, up 6.1% from 2011 and 50.2% of the global total. It was the first time the percentage by a single country exceeded 50%.
June 26 – China's apparent oil demand grew 3.1% year on year in May, slowing from 4.3% in April. Gasoline demand was up 12% in May, faster than the 6% in April. Diesel demand dropped 2.5% year on year in May, bouncing back from the 3% decline in May. Crude oil imports totaled 5.6 million barrels a day in May, remaining flat compared with a month earlier and down 6% from from a year earlier.
Source: Credit Suisse
June 25 – China's gold output is estimated to rise 10% to a record 440 tons in 2013, according to the China Mining Association. Production rose 12% year on year to 123 tons in January-April 2013.
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