Aluminum price soars as China cancels tax incentive on exports
The export tax rebate was also removed for copper and lowered for some refined oil, solar, battery and non-metallic mineral products.
After 13 years of rapid growth, China today burns more coal than the rest of the world combined.
Over this period the country was responsible for more than 80% of global growth in coal usage since the start of the century.
Now a new study shows growth in coal consumption and production in China have been even more spectacular than previously thought.
According to newly released international data from the US Energy Information Administration (EIA) data from the China Statistical Abstract 2015 show an upward revision to China’s historical coal consumption and production.
According to the EIA energy-content-based coal consumption from 2000 to 2013 is up to 14% higher than previously reported, while coal production is up to 7% higher.
These revisions also affect China’s total primary energy consumption and production, which are also higher than previously reported—up to 11% and 7% in some years, respectively, mainly because of revisions to coal.
In 2014, energy-content-based coal consumption was essentially flat, and production declined by 2.6%.
Source: EIA
Comments
Brian R. McCaughrin
If you look at both of your stats above you will clearly notice that China is slowly braking away in the demand, as its looking to clean up it mess of the environment. Its Citizens are demanding that China looks for cleaner energy. Last year China invested $80B into cleaning up it act, but blames other countries with pollution coming into China. Fortune magazine did an excellent articles on this very topic. “This is: “Why China is Embracing Clean Energy” Coal is killing people.