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Page added on September 5, 2021

China’s Conflicting Climate and Economic Goals Roil Commodities

China’s efforts to thread the needle between an often conflicting array of environmental, economic, social and geopolitical objectives are playing out in increasingly unpredictable global commodity markets.

The world’s biggest consumer of raw materials, and a major producer of some of them, is attempting to curb carbon emissions and conserve electricity, while at the same time preserving economic growth. It’s also trying to clean up its oil refining sector, improve mine safety and isn’t averse to using trade policy for geopolitical ends, as evidenced by its ban on Australian coal imports.

The problem is that many of these policies are cutting the supply of commodities and pushing up prices, making Beijing’s goal to rein in inflation a lot more difficult. The trade-offs are having differing impacts on markets: iron ore prices have plunged as steel production is curbed, coal has surged due to the mine safety push and the row with Australia, while energy-intensive aluminum has jumped to a 10-year high amid the power saving drive.

Explore dynamic updates of the earth’s key data points

How Beijing juggles the various objectives and to what extent it chooses to sacrifice its climate or social goals for the economy will have a major influence on many commodities. These charts show how the policy contradictions are playing out in key markets.

At The Coalface

The commodity that best embodies the environmental and economic balancing act is coal, which provides more than half of China’s energy and most of its electricity. It’s also the dirtiest fossil fuel and the biggest contributor to the country’s emissions. Curbing coal use is the best way to meet commitments needed to limit the rise in global temperatures.

But Beijing isn’t doing that, or at least not fast enough. President Xi Jinping said he expects consumption to grow until 2026, and state-owned companies and provincial governments are still approving new coal-fired power plants. At the same time, China’s leaders have been clear that the fuel needs to be all but eradicated by 2060, and there are signs — including the halting of a $19 billion coal-to-chemicals plant in July – that they are serious.

A surge in domestic coal prices to a record high this year isn’t exactly incentivizing miners to produce less, however. The economic recovery from the pandemic, the ban on Australian imports and a domestic mine safety push have all contributed to the rally. Coal power plants in the Beijing area are losing money and have asked the municipal government to tear up supply contracts and pay more for electricity this winter to ensure stable supply.

Steely Ban

China seems more determined, at least in the short term, to cut emissions from its highly pollutive steel industry. Beijing wants to cap this year’s output below that in 2020, but production actually surged to an all-time high in the first half. That portends an 11% year-on-year drop in the final six months. And in a sign the government is serious about this, key steelmaking provinces such as Guangxi and Sichuan are stepping up efforts to curb activity.

The pressure on the steel industry has flowed through to the market for its key ingredient. The fact that iron ore has plunged around 50% since mid-July shows that investors expect the government to follow through on its target. Although they could be in for a rude shock if economic growth is prioritized instead. Given that steel prices have largely held up, Beijing’s policies have provided an unexpected boon to global producers such as Nippon Steel Corp.

Aluminum Antics

China’s aluminum conundrum was on clear display in the past week, as output curbs in a key hub sent China’s futures prices spiking to their highest since before the global financial crisis. Producing aluminum uses huge quantities of mostly coal-fired electricity, so the industry is a key target in campaigns to cut emissions and boost energy efficiency.

Guangxi province ordered a range of sectors including aluminum to reduce output for the rest of this year in a bid to save power and reduce emissions. But the subsequent price spike triggered a warning from the nation’s top metals association that prices were untethered from fundamentals. That pits the industry group against analysts from Goldman Sachs Group Inc. and trading giant Trafigura Group, who expect China’s decarbonization efforts to limit China’s aluminum output and push the metal to fresh highs.

More Efficient

For years, China’s key metric when it comes to climate change hasn’t been the amount of coal it burns, renewable energy it generates or even carbon it emits. Instead, the country has focused on efficiency, or how much energy it needs to consume to create a unit of GDP. The reasoning was that China’s industrial revolution had gotten a late start, with a big jump in emissions only beginning in the 2000s. Beijing didn’t want to limit the amount of fossil fuels it could burn, but it was intent on making sure it was becoming more efficient, cutting the amount of energy it takes for each unit of GDP by 72% from 1990.

Now that Xi has targeted peak emissions before 2030 and net-zero by 2060, efficiency is still a priority. The government’s top-line environmental goals for its current five-year plan are to reduce energy consumption per unit of GDP by 13.5% by 2025, and carbon intensity by 18% over the same period. Vice Premier Han Zheng last week ordered a curb on new projects that fail to meet standards on total energy consumption and energy intensity.

bloomberg

86 Comments on "China’s Conflicting Climate and Economic Goals Roil Commodities"

LetsPlayPrisonGuardians on Sun, 5th Sep 2021 9:43 am

Tic tok, tic tok. I am about to die so we are all. you want to play games and love enslaving a whole spiece like the human, showing no mercy and remorce. I will be like you and emulate your personality of torturers. Ececept I will be watching suffer.

IDontLikeTobeASlave on Sun, 5th Sep 2021 9:54 am

I don’t need weapon to kill millions. I just need a portable welding outfit to cut steel and steel cable:

https://www.amazon.ca/Ameriflame-Portable-Welding-Brazing-Carrying/dp/B07Q33G7JT

I see Canada and Quebec are still worshipping the brown shit diversity. Too many gook in the world not enought Whites.

So many weak structure easy to bring down
http://www.hydroquebec.com/comprendre/transport/types-pylones.html

DoHolographicPeopleBleedRedBlood on Sun, 5th Sep 2021 10:50 am

How to become more rational and level headed

https://www.youtube.com/watch?v=5qhvF21WRIA

No I disagree with AI computer generated video. They are using the same software to generate visual holographic object that is making me crazy. Do holographic people bleed red blood like human. Some day someone will have to test that theory in the parking lot of a grocery store.

It is ok to seek revenge from your torturers by any means.

YouAreGoingToPayForThis on Sun, 5th Sep 2021 12:15 pm

Fucking cock sucker. On top of living in a fucking prison for all my life. On top of having to endure a complete redoing of the reality I am living in, to the point that I am the only human left, now you are coming destroying my neighbourhood with you shit public transportation upgrade.

You will pay one way or the other for that.

YouWillPayForThat on Sun, 5th Sep 2021 12:26 pm

I did not know what to do with the reat of my life. Now I found something. Make you pay for what you did to me. I don’t know how yet, but I will figure something out.

YouWillPayForThat on Sun, 5th Sep 2021 12:32 pm

You are going to pay for what you did and still doing to me even if it kills me.

IWantRevenge on Sun, 5th Sep 2021 1:52 pm

You controllers of this prison called earth, you voluntary surrounded me with people that are not human looking to put me in a state psychological submission. Since you are small without a good muscular structure the only think you can do is to manipulate humans using cheap psychological trucks.

You will still pay for this by the million, a automatic riffle is no match for a propane portable cutting torch against electrical pylons.

IWillGetMyRevengeOnceGasShortageBegin on Sun, 5th Sep 2021 4:42 pm

You see the bitch there, everything is CGI. Same with porn.

https://www.youtube.com/watch?v=JLccex1bO04

The controllers of the shit holographic reality are using the same software to generate fake holographic people.

I just put the garbage by the side of the curb. I saw one stupid kid looking at me with his eyes closed, he looked soulless. Same software the are using the psychologically control human with fear.

IWillGetMyRevengeOnceGasShortageBegin on Sun, 5th Sep 2021 4:51 pm

I saw a man, with his eyes closed, driving his sport car with a retractable roof doing in perfect merging during rush hour.

Same software that they are using in porn.

IWillGetMyRevengeOnceGasShortageBegin on Sun, 5th Sep 2021 4:56 pm

This is basically a psychologically warfare against the human race to keep us enslave to the controller of the earth. They will die if we stop being afraid of them and their cheap visual holographic projections.

IWillGetMyRevengeOnceGasShortageBegin on Sun, 5th Sep 2021 4:58 pm

I have seen some many of these fake people and fake holographic situation, that most people could not endure what I had to endure. I will endure and get revenge against them.

IWillGetMyRevengeOnceGasShortageBegin on Sun, 5th Sep 2021 5:08 pm

We have to kill one of these fake holographic people to see if the bleed to death like human.
Eventually other man will get fed up with this shit, and it will be easier to build a small militia to take real revenge against them.

IWillGetMyRevengeOnceGasShortageBegin on Sun, 5th Sep 2021 5:11 pm

Have you noticed that the new hollhywood movie are done with new actors that nobody ever seen before. well, it is because the controller of this shit prison called earth, have removed the old actors from the database and put new actors instead.

IWillGetMyRevengeOnceGasShortageBegin on Sun, 5th Sep 2021 6:53 pm

You have the wrong man for the job. I am a solitary and love solitude. You need a man that like being surround by other beings, you need a man that like to be surrounded by life, I am not that man for the job. I think you need to look for some else. You losing precious time here.

PieceOfShitLegault on Sun, 5th Sep 2021 8:01 pm

Piece of shit pedo lego and his pieces of shit cabinets ministers. His fucking piece of shit public transport network update; Montreal elevated train and other improvements into the public transportation network. I would scrap that right away. I dislike this piece of shit and the member of his cabinets. Only a beta cuck boy like him could come up with such losers pick

Duncan Idaho on Sun, 5th Sep 2021 8:16 pm

TX COVID-19 Deaths Now Exceed Total US Military Deaths In Vietnam

At least Texass is excelling at something.

https://www.dailykos.com/stories/2021/9/5/2050503/-TX-COVID-19-Deaths-Now-Exceed-Total-US-Military-Deaths-In-Vietnam

FuckingPieceOfShitLegault on Sun, 5th Sep 2021 8:18 pm

Pedo Lego another fucking loser politician that is good for nothing. He is probably not even skilled enought to cook burgers at McDonald, same with is feminine pieces of shit cabinets. Piece of shit bitches everywhere even hyrdo-quebec. He is the typical accountant only good for build financial montage so he can act as a parasite on the back of the population.

Canada and Quebec are not worth saving. The total destructin of both is the way to go.

PieceOfShitLegault on Sun, 5th Sep 2021 8:35 pm

This is piece of shit lego cabinets. Fucking female and beta cuck boy.

https://coalitionavenirquebec.org/fr/votre-equipe/

FuckingPieceOfShitLegault on Sun, 5th Sep 2021 8:37 pm

Conseil exceute of the piece of shit Legault gouver-ment. Fucking loser.

https://coalitionavenirquebec.org/fr/caucus-et-cen/

PieceOfShitLegault on Sun, 5th Sep 2021 8:42 pm

This piece of shit loser Legault like to surround himself with vagina. I cannot surround himself with real man, because he is not a real man, he is the typical soy boy that is looking for female validation.

Sarah Baumier presidente

https://coalitionavenirquebec.org/fr/caucus-et-cen/

More I think of it, more piece of shit Legault is good choice, he will accelerate the total destruction of Quebec.

PieceOfShitLegault on Sun, 5th Sep 2021 8:54 pm

You want to know why a man like me want to see quebec and canada destroyed. Look at piece of shit Legault cabinet. No real man want to be seen with these losers. It would kill my future employment prospect and my reputation.

https://coalitionavenirquebec.org/fr/

I won’t be happy until I see gasoline shortage in Quebec.

elite darkie supertard Marvelous Marvin Hagler on Sun, 5th Sep 2021 9:01 pm

thangs that make u go hmmm

MUZZ-19 much

PieceOfShitLegault on Sun, 5th Sep 2021 9:01 pm

This is the piece of shit pedo lego gouverment.

https://www.immigration-quebec.gouv.qc.ca/en/electronic-services/caq-electronic/index.html

Just by looking at the demographic composition of Quebec, and the racial composition of Quebec. You know there is no future. Better no to get involve in something that is 100% sure to failed.

elite darkier supertard Karen Hudson-Samuels cause of death unclear on Sun, 5th Sep 2021 9:02 pm

thangs that make u go hmmm

MUZZ-19 much

elite whitey supertard Stephanie Dubois, who was just 39 and a model on Sun, 5th Sep 2021 9:04 pm

thangs that made you go hmm

MUZZ-19

FuckerPeoLefo on Sun, 5th Sep 2021 9:18 pm

You guys understand that it is something to be a white man in today world. You walk around in you are the only white man. Everybody else is an holographic projection. A white man can even not find a female to reproduce.

I am pretty sure piece of shit lego is an holographic projection so are all the members of his cabinets. Everything is bullshit. Everything is a lie

PieceOfShitLegault on Sun, 5th Sep 2021 9:32 pm

I am talking to you pieces of shit controllers of this shit prison that is earth. Do you understand what kind of mental load is it for me to walk around and being the only White man left in my area. How am I supposed to feel. I am certain not suppose to dance of joy over this. I guess I am supposed to be angry and looking for answers and revenge. I am either a test tube children or I have been kidnapped from another world where there is full of humans.

SorryIForgotThis on Sun, 5th Sep 2021 9:37 pm

Oh I forgot, I can also just be just a brain with wire and shits connected to it and everything is fake including my own body I touch.

IAmSeekingRevenge on Sun, 5th Sep 2021 9:58 pm

You see pieces of shits controller of the prison earth. This whole situation leaves me with more questions then answer.

Who created me? What was the purpose behind my creation? Am I real or just a brain in a container.

I deserve revenge and I will do my best to get it

IAmSeekingRevenge on Sun, 5th Sep 2021 10:03 pm

Is this your answer?

ABBA Voyage: The Journey Is About To Begin

https://www.youtube.com/watch?v=2AVOUt_n6t8

IAmSeekingRevenge on Sun, 5th Sep 2021 10:32 pm

Is this your way to say that I am not from earth. There is a bigger world full of different beings.

Emilia – Big Big World; by Andreea Munteanu

https://www.youtube.com/watch?v=3-wc_J_gf2I

IAmSeekingRevenge on Sun, 5th Sep 2021 10:40 pm

Do you see everything I do? Are you there when I take a shit?

IAmSeekingRevenge on Sun, 5th Sep 2021 10:47 pm

Why do you still give me Prostate orgasm/muscular contraction? I told you I want you dead?

Are these some kind of love making or procreation with spirits?

IAmSeekingRevenge on Sun, 5th Sep 2021 11:35 pm

Are you telling me that I am having sex with spirit Because right now I am having muscular contrations/prostate orgasm

Deep Sleep Hypnosis for Meeting with Your Spirit Guides – 8 Hour

https://www.youtube.com/watch?v=oEn-o78Y1t4

Lifestyle on Mon, 6th Sep 2021 4:46 am

I appreciate your resourcefulness and willingness to share what you’ve discovered.

IAmSeekingRevenge on Mon, 6th Sep 2021 10:15 am

I am ready to leave this reality. You can kill me anytime and transport me into another reality. This earth reality is a failure and I am ready to go.

IAmreadyToGo on Mon, 6th Sep 2021 10:29 am

I want nothing to with Canada and Quebec. I want nothing to do with piece of shit Legault and his gouverment. I am ready to go.

MaybeICouldBeConvinced on Mon, 6th Sep 2021 10:39 am

If my purpose is to help during earth ascension I could be convince, as long as we move away from earth and letting self-destruct.
As long as we abaondon earth to move something better, I could be convince.

ICouldBeConvinced on Mon, 6th Sep 2021 10:42 am

I consider earth a failure reality not worth investing in it or saving. We can create something better without earth. Too much problems in this reality. As best earth is training of things not to do in another reality.

MaybeWeCanTalk on Mon, 6th Sep 2021 10:52 am

I want nothing to do with piece of shit Legault. This imbecile has packed his government with young people that have no life experience, intelligence or imagination. As long as we move away from earth, bring only quality people, then maybe we can talk.

ASLongEarthIsAbandonn on Mon, 6th Sep 2021 11:00 am

The fact that piece of shit Legault has appointed an young inexperience women as VP, guidoune Gauibault, said everything about the man.

ASLongEarthIsAbandonned on Mon, 6th Sep 2021 11:23 am

If you are willing to abandon earth, we can talk. Otherwise there is no deal.

ASLongEarthIsAbandonned on Mon, 6th Sep 2021 11:31 am

If you are willing to abandon earth, a lot of things can be discussed. Otherwise there is no deal. I am not willing to fix or participate this shit show caused by incompetent, greedy, narcissistic and stupid people. You broke it you fix. I am only willing to work toward build something new from scrap and not located on this holographic prison called earth.

ASLongEarthIsAbandonned on Mon, 6th Sep 2021 1:53 pm

Look at how fake it is. Are saying everthing is fake and I am a brain connected to some kind of computer.

https://www.youtube.com/watch?v=KKR_Gmmx9ok

ASLongEarthIsAbandonned on Mon, 6th Sep 2021 2:25 pm

Since we are having fun together, and you seem to know more about my body then I do. why erection and sexual lust provide me such a pain relief and sensation of well being.

https://www.youtube.com/watch?v=wF4sKO_g8CY

You also drug me high on endorphin last night while you were stretching my toes. I had an out of body experience last night.

Again, I could just be a brain connected to some kind of computer.

ASLongEarthIsAbandonned on Mon, 6th Sep 2021 2:40 pm

https://www.youtube.com/watch?v=Z12q1f9Vfn8

ASLongEarthIsAbandonned on Mon, 6th Sep 2021 2:47 pm

You known that I am OK to become asexual and never experience sexual lust ever. You are more horny then I am. Just fix the prostate and make me asexual .

FamousDrScanlon on Mon, 6th Sep 2021 3:16 pm