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Real-time News
Futures News, June 15th - According to foreign media reports, Malaysian palm oil futures fluctuated downwards on Monday, dragged down by weakness in related edible oil markets in Dalian and Chicago, as well as a drop in crude oil prices. Oil prices fell to their lowest level since March on Monday. This followed statements from US President Trump and the Iranian Deputy Foreign Minister that the two sides had reached a preliminary agreement to end the war and were prepared to resume navigation in the Strait of Hormuz. Weak crude oil futures reduced the attractiveness of palm oil as a feedstock for biodiesel. Asian stock markets generally surged on Monday, the US dollar weakened, and oil prices fell sharply, as the preliminary peace agreement between the US and Iran signaled an easing of global inflationary pressures and reduced the need for further interest rate hikes.On June 15th, Futures News reported that the National Development and Reform Commission and other departments issued a notice on launching a three-year action plan for energy conservation and carbon reduction in key industries. The notice proposes promoting energy conservation and carbon reduction upgrades in key processes and equipment such as blast furnaces and converters; applying advanced technologies such as high-proportion pelletizing in blast furnaces, top-pressure equalization gas recovery, and oxygen-enriched combustion in hot blast stoves; promoting inter-process interface connection technologies such as one-pot molten iron; orderly carrying out the application of technologies such as hydrogen metallurgy; and accelerating the upgrading of energy-consuming equipment such as motors, fans, water pumps, heat pumps, boilers, oxygen generators, air compressors, and transformers. It also calls for implementing upgrades such as waste heat recovery and waste energy power generation, and strengthening the recovery and utilization of by-product gas, waste heat, and waste pressure. Top-loading coke ovens with a carbonization chamber height of less than 6 meters (rammed coke ovens with a height of less than 5.5 meters), pelletizing equipment with a capacity of less than 1.2 million tons/year, blast furnaces with a capacity of less than 1,200 cubic meters, converters with a capacity of less than 100 tons, electric arc furnaces with a capacity of less than 100 tons (50 tons for alloy steel), and old and inefficient self-owned coal-fired units should be upgraded and transformed as soon as possible. Coke ovens should be equipped with high-efficiency dry quenching devices.Market news: Russian airstrikes in Kyiv, Ukraine, have killed two people.On June 15th, a notice was issued proposing to improve price guidance and regulation. All regions should fully leverage the role of price mechanisms, comprehensively considering factors such as the implementation of capacity and output control policies, energy consumption and carbon emission levels, and environmental performance. The existing differentiated electricity pricing, tiered electricity pricing, and punitive electricity pricing policies can be merged into a unified differentiated electricity pricing policy, with a surcharge of no more than 0.1 yuan per kilowatt-hour on top of the market transaction price. This surcharge will be used to offset system operating costs.On June 15th, a notice was issued proposing that the coal-fired power industry promote energy-saving and carbon-reduction retrofits for existing coal-fired power units of 300,000 kilowatts and above. This includes promoting technologies such as flow regulation, high-efficiency combustion, cold-end optimization, waste heat utilization, and intelligent control; accelerating the upgrading of energy-consuming equipment such as fans, heat pumps, boilers, steam turbines, and transformers; and reducing coal consumption for power generation by more than 5 grams of standard coal per kilowatt-hour after the retrofits. The notice also implements the requirements of the new generation coal-fired power upgrade special action, promoting the comprehensive retrofitting of coal-fired power plants with high-efficiency regulation capabilities such as rapid adjustment, deep adjustment, and wide load range, and encouraging the integrated development of coal-fired power and new energy sources. Furthermore, it promotes the implementation of heat and power decoupling retrofits for cogeneration units in areas with centralized winter heating, aiming to achieve a peak-shaving depth of less than 40% after the retrofits. Finally, it encourages eligible existing coal-fired power units of 300,000 kilowatts and above to undergo low-carbon retrofits through methods such as coupling with new energy sources, co-firing biomass, and installing energy storage and thermal storage facilities, aiming to reduce carbon emissions per kilowatt-hour by 10%-20%, with a target reduction of over 20%.
