TABLE OF CONTENTS. No. Title Media Source Page

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Daily News Update Page 1

Batu bara adalah komoditas strategis bagi China, karena sekitar 60% pembangkit listrik di sana menggunakan tenaga batu bara. Tingginya harga batu bara membuat perusaaan listrik kelimpungan karena di sisi lain permintaan juga sangat tinggi. So, wajar pemerintah China punya kepetingan untuk menekan harga batu bara.

Akan tetapi, sejumlah pihak tidak yakin upaya pemerintah China untuk mengontrol harga batu bara akan membuahkan hasil.

Pasalnya, kenaikan harga batu bara adalah masalah dunia, bukan di China saja.

"Intervensi pemerintah bagai sedikit guyuran air ke api besar yang membara.

Inti dari masalah ini adalah keterbatasan pasokan energy karena bumi belahan utara (northern hemisphere) akan segera memasuki musimdingin. Butuh waktu berbulan-bulan agar keseimbangan antara pasokan dan permintaan kembali seimbang," terang Frederic Neumann, Co- Head Asian Economic Research di HSBC, sebagaimana diwartakan Reuters. TIM RISET CNBC INDONESIA (aji/aji)

Vale Indonesia (INCO): Nickel Production Up 20 Percent

Quarterly

Author: Mutiara Nabila

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T VALE Indonesia Tbk. (INCO) succeeded in producing 18,127 metric tons of nickel in matte in the third quarter of 2021.

Vale Indonesia (INCO): Produksi Nikel Naik 20 Persen Secara

Kuartalan

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T VALE Indonesia Tbk. (INCO) berhasil memproduksi 18.127 metrik ton nikel dalam matte pada kuartal III/2021.

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Vale Indonesia CFO Bernardus Irmanto said the realization of production in the third quarter of 2021 was about 20 percent higher than the production volume realized in the second quarter of 2021 which only reached 15,048 tons.

On the other hand, production throughout 2021 was recorded to be 13 percent lower than production in the same period in 2020. In the first nine months of 2020 production reached 55,792 metric tons and this year it only reached 48,373 metric tons.

"This is due to maintenance activities that occurred in the first quarter of this year.

The company will optimize production according to the plan for the remainder of 2021 while implementing high standards of occupational health and safety protocols in our operations," said Bernardus in an information disclosure, Tuesday (19/10/

2021).

Looking at its performance on the stock exchange, the shares of the issuer codenamed INCO fell 75 points or 1.46 percent to 5,050 in yesterday's trading.

Despite being down, in a week its share price still recorded an increase of 2.02 percent.

Meanwhile, for the current year INCO shares fell 0.98 percent. However, if viewed on an annual basis, the price has increased by 38.36 percent.

Finally, INCO shares also recorded purchases by foreigners worth Rp. 12.24 billion, with details of purchases in the regular market of Rp. 13.66 billion and sales in the negotiated and cash market of Rp. 1.41 billion. Editor : Farid Firdaus

CFO Vale Indonesia Bernardus Irmanto mengatakan, realisasi produksi kuartal III/2021 sekitar 20 persen lebih tinggi dibandingkan volume produksi yang di- realisasikan pada kuartal II/2021 yang hanya mencapai 15.048 ton.

Di sisi lain, produksi sepanjang 2021 berjalan tercatat lebih rendah 13 persen dibandingkan produksi pada periode yang sama pada 2020. Di mana pada sembilan bulan pertama 2020 produksinya mencapai 55.792 metrik ton dan tahun ini hanya mencapai 48.373 metrik ton.

"Ini disebabkan oleh aktivitas peme- liharaan yang terjadi pada kuartal pertama tahun ini. Perseroan akan mengoptimalkan produksi sesuai dengan rencana di sisa bulan 2021 sekaligus menerapkan standar protokol kesehatan dan keselamatan kerja yang tinggi di operasi kami," ungkap Bernardus dalam keterbukaan informasi, Selasa (19/10/2021).

Melihat kinerjanya di bursa, saham emiten bersandi INCO tersebut turu 75 poin atau 1,46 persen ke 5.050 pada perdagangan kemarin. Meski sedang turun, dalam sepekan harga sahamnya masih mencatatkan kenaikan 2,02 persen.

Adapun, secara tahun berjalan saham INCO turun 0,98 persen. Namun, jika dilihat secara tahunan harganya sudah naik 38,36 persen.

Terakhir, saham INCO juga mencatatkan pembelian oleh asing senilai Rp12,24 miliar dengan perincian pembelian di pasar reguler sebanyak Rp13,66 miliar dan penjualan di pasar negosiasi dan tunai senilai Rp1,41 miliar. Editor : Farid Firdaus

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Coal prices fell below US$200 per tonne, this is the reason!

Reporter: Avanty Nurdiana | Editor:

Avanty Nurdiana

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OAL futures prices fell sharply. Yesterday (19/10), the price of coal for delivery in January 2022 on the ICE Newcastle exchange fell 6.44% at US$ 199.10 per ton.

The decline in coal prices was because the Chinese government said it was looking for a way and would intervene after seeing record prices. The government will also bring fuel prices back to a reasonable range.

Previously, coal prices rose sharply to their highest level of US$ 259 per tonne due to the widespread electricity crisis and the start of winter. Coal supply is hampered to make prices continue to soar. Because China's power plants use coal as fuel.

The increase in coal prices hampered China's economic growth because it disrupted the industry. The decline in coal prices on Tuesday was the steepest decline since August, although prices are still up about 260% this year.

On the Dalian Commodity Exchange, the price of raw materials for coking steel and coking coal fell by around 9%. China's National Development and Reform Commission (NDRC) said the Chinese government's intervention in coal prices was discussed at a meeting of major coal producers, industry associations and the China Electricity Council on Tuesday.

"The current rise in prices has completely deviated from the basics of supply and demand," the NDRC said.

Harga batubara turun di bawah US$200 per ton, ini

penyebabnya!

Reporter: Avanty Nurdiana | Editor:

Avanty Nurdiana

H

ARGA batubara berjangka merosot tajam.

Kemarin (19/10), harga batubara untuk pengiriman Januari 2022 di bursa ICE Newcastle turun 6,44% di US$ 199,10 per ton.

Penurunan harga batubara lantaran pemerintah China menyebut tengah mencari cara dan akan ikut campur tangan setelah melihat rekor harga. Pemerintah juga akan membawa harga bahan bakar kembali ke kisaran yang wajar.

Sebelumnya harga batubara meningkat tajam hingga ke level tertinggi di US$ 259 per ton karena meluasnya krisis listrik dan awal dari musim dingin. Pasokan batubara yang ter- hambat membuat harga terus melejit. Pasal- nya pembangkit listrik China menggunakan bahan bakar batubara.

Kenaikan harga batubara menghambat per- tumbuhan ekonomi China sebab menganggu industri. Penurunan harga batubara pada Selasa kemarin merupakan penurunan ter- tajam sejak Agustus, meskipun harga masih naik sekitar 260% tahun ini.

Di Dalian Commodity Exchange, harga bahan baku pembuatan baja kokas dan batubara kokas turun sekitar 9%. Komisi Pembangunan dan Reformasi Nasional (NDRC) China mengatakan intervensi pemerintah China dalam harga batubara dibahas pada pertemuan produsen batubara utama, asosiasi industri dan Dewan Listrik China pada Selasa.

"Kenaikan harga saat ini benar -benar menyimpang dari dasar-dasar penawaran dan permintaan," kata NDRC.

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Chinese law allows the State Council, China's cabinet and local governments to limit profit rates and set price limits when the price of essential goods or services rises sharply. The NDRC will take action against any irregularities and maintain market order.

The coal shortage in China is caused by a variety of factors including a post- pandemic demand spike, low stocks and supplies hit by extreme weather and transportation-related disruptions.

The NDRC said it will ensure the coal mine is operating at full capacity and aims to achieve production of at least 12 million tonnes per day. This put production levels at a 2021 high of more than 11.6 million tonnes on October 18, up more than 1.2 million tonnes from late September after an all-out effort to increase supply that included approvals for new coal mines.

The NDRC also said the Zhengzhou bourse should pay attention to fluctuations in coal prices and said it would increase price controls, while cracking down on speculators who have been repeatedly blamed by Chinese authorities for high commodity prices this year.

The Zhengzhou Exchange said from Wednesday evening it will raise the trading limit on thermal coal contracts to 10% and impose limits on some members' trading positions.

The Zhengzhou Commodity Exchange's most-traded thermal coal contract, for January delivery, fell to 1,755.40 yuan ($275) a tonne, after touching an all-time peak of 1,982 yuan.

Undang-undang China mengizinkan Dewan Negara, kabinet China dan pemerintah daerah untuk membatasi tingkat keun- tungan dan menetapkan batas harga ketika harga barang atau jasa penting naik tajam.

NDRC akan menindak setiap penyim- pangan dan menjaga ketertiban pasar.

Kekurangan batubara di China disebabkan oleh berbagai faktor termasuk lonjakan permintaan pasca-pandemi, rendahnya stok dan pasokan yang dilanda cuaca ekstrem dan gangguan terkait transportasi.

NDRC mengatakan akan memastikan tambang batubara beroperasi pada kapasitas penuh dan bertujuan untuk mencapai produksi setidaknya 12 juta ton per hari.

Ini menempatkan tingkat produksi pada tertinggi 2021 lebih dari 11,6 juta ton pada 18 Oktober, naik lebih dari 1,2 juta ton dari akhir September setelah upaya habis- habisan untuk meningkatkan pasokan yang termasuk persetujuan untuk tambang batubara yang baru.

NDRC juga mengatakan bursa Zhengzhou harus memperhatikan fluktuasi harga batubara dan mengatakan akan meningkatkan pengawasan harga, sambil menindak spekulan yang berulang kali dipersalahkan oleh otoritas China atas harga komoditas yang tinggi tahun ini.

Bursa Zhengzhou mengatakan mulai sesi Rabu malam akan menaikkan batas perdagangan pada kontrak batubara termal menjadi 10% dan memberlakukan batasan pada beberapa posisi perdagangan anggota.

Kontrak batubara termal yang paling banyak diperdagangkan di Zhengzhou Commodity Exchange, untuk pengiriman Januari, turun menjadi 1.755,40 yuan ($275) per ton, setelah menyentuh puncak sepanjang masa 1.982 yuan.

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Indonesia Missed Exports of Nickel Ore, This is What the

Ditgen. Minerba said

Rio Indrawan

T

HE DIRECTORATE General of Mineral and Coal (Minerba) of the Ministry of Energy and Mineral Resources (MEMR) finally opened its voice regarding reports of nickel ore imports by China from Indonesia throughout 2020. Based on existing regulations, last year there should have been no nickel ore exports.

Ridwan Djamaluddin, Director General of Mineral and Coal at the Ministry of EMR, admitted that he immediately held a meeting with several agencies related to export activities.

"We collect information from relevant agencies regarding the news," said Ridwan to Dunia Energi, Tuesday (19/10).

According to him, until now there has been no government decision regarding the news and information. "So far, there is no information that can be used as a basis," he said.

Based on information received by Dunia Energi, the Directorate General of Mineral and Coal (Minerba) commanded by Ridwan Djamaluddin, immediately held a surprise meeting on Thursday (14/10) or two days after Faisal Basri, an economic observer from the University of Indonesia revealed data on the entry of low grade nickel ore to China from Indonesia based on data from the Chinese government.

In an urgent letter No 44.Und/MB.04/

DJB/2021, it was revealed that Ridwan Djamaluddin, the Ditgen.of Minerba, directly chaired a meeting to discuss the government on Oere nickel exports in 2020 which was conveyed by Faisal Basri.

Indonesia Kecolongan Ekspor Nikel Ore, Ini Kata Dirjen

Minerba

Rio Indrawan

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IREKTORAT Jendral Mineral dan Batu bara (Minerba) Kementerian Energi dan Sumber Daya Mineral (ESDM) akhirnya buka suara terkait adanya laporan impor nikel ore oleh China yang berasal dari Indonsia sepanjang tahun 2020. Berdasarkan regulasi yang ada seharusnya tahun lalu tidak ada kegiatan ekspor nikel ore.

Ridwan Djamaluddin, Dirjen Mineraba Kementerian ESDM, mengakui langsung menggelar pertemuan dengan beberapa instansi terkait kegiatan ekspor.

“Kami mengumpulkan informasi dari instansi terkait terhadap berita tersebut,” kata Ridwan kepada Dunia Energi, Selasa (19/10).

Menurutnya sampai sekarang belum ada keputusan pemerintah terkait pemberitaan dan informasi tersebut. “sejauh ini, belum ada informasi yg dapat dijadikan dasar,”

ungkap dia.

Berdasarkan informasi yang diterima Dunia Energi, Direktorat Jendral Mineral dan Batu bara (Minerba) yang dikomandoi oleh Ridwan Djamaluddin, langsung menggelar pertemuan mendadak pada Kamis (14/10) atau dua hari setelah Faisal Basri, pengamat ekonomi dari Universitas Indonesia mem- beberkan data masuknya nikel kadar rendah ke China dari Indonesia berdasarkan data dari pemerintah China.

Dalam surat No 44.Und/MB.04/DJB/2021 yang bersifat segera, terungkap bahwa Ridwan Djamaluddin, Dirjen Minerba me- mimpin langsung rapat untuk membahas pemerintaan tentang ekspor nikel oere pada tahun 2020 yang disampaikan Faisal Basri.

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Faisal Basri himself thinks that the government has missed the point because despite the ban, nickel ore, which is clearly required to be processed domestically, can still be enjoyed by industry in China.

"In 2020 the government banned exports, based on BPS data there were no exports for the HS 2604 code. However, the General Customs Administration of China noted that last year there were still 3.4 million tons of imports from Indonesia with a value much higher than 2014's US$193. 6 million or equivalent to Rp. 2.8 trillion at the 2020 exchange rate of Rp. 14,577 per US dollar,"

said Faisal.

The Directorate General of Mineral and Coal invited parties involved in nickel production and export activities, for example the Director General of Foreign Trade of the Ministry of Trade, the Director General of Customs and Excise, the Director General of Sea Transpor- tation, the Director General of Metal, Machinery, Transportation and Electronic Equipment, the National Police Criminal Investigation Agency, the Head of the Statistics Agency to the Indonesian Ambassador to the People's Republic of China.

The invitation also included the ranks of the Directorate General of Mineral and Coal, nickel processing and refining business players, nickel mining business players and surveyors.

Faisal Basri sendiri menilai pemerintah telah kecolongan karena meskipun adanya larangan, toh nikel ore yang jelas-jelas diwajibkan untuk diolah dulu di dalam negeri ternyata masih bisa dinikmati oleh industri di China.

“Pada tahun 2020 pemerintah melarang ekspor, berdasarkan data BPS tidak ada ekspor utk kode HS 2604. Tapi, General Customs Administration of China mencatat pada tahun kemarin masih ada 3,4 juta ton impor dari indonesia dengan nilai jauh lebih tinggi dari 2014 sebesar US$193,6 juta atau setara Rp2,8 triliun dengan kurs tahun 2020 Rp14,577 per dolar AS,” kata Faisal.

Ditjen Minerba mengundang para pihak yang terlibat dalam kegiatan produksi serta ekspor nikel, misalnya Dirjen Perdagangan Luar Negeru Kementerian Perdagangan, Dirjen Bea dan Cukai, Dirjen Perhubungan Laut, Dirjen Industri Logam, Mesin, alat Transportasi dan Elektronika, Bareskrim Polri, Kepala Badan Statistik hingga Duta Besar Indonesia untuk Republik Rakat Tiongkok.

Dalam undangan juga terdapat jajaran Ditjen Minerba, pelaku usaha pengolahan dan pemurnian nikel, pelaku usaha tambang nikel serta para surveyor.

Soaring Coal Prices Hurt Domestic Industries

By: Whisnu Bagus Prasetyo/WBP

T

HE SOARING price of coal has begun to burden several Indonesian industries. If not handled properly,...

Lonjakan Harga Batu Bara Beratkan Industri Dalam Negeri

Oleh : Whisnu Bagus Prasetyo/WBP

H

ARGA batu bara yang melonjak mulai memberatkan beberapa industri Tanah Air.

Jika tidak ditangani dengan benar,...

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If not handled properly, coal will have a lasting effect from the collapse of the industry to the emergence of unemploy- ment. The government must immediately intervene to save a number of industries in Indonesia that consume coal in their operations. This is in line with the skyrocketing coal price to above US$ 200 per metric ton. The operational activities of a number of industries are not even optimal due to the high price of coal, including the cement, textile, paper, fertilizer, processing and refining industries as well as other chemical industries.

“The government must determine the selling price, the maximum price of coal for domestic needs (domestic market obligation/DMO). The requirements must also be stated. For example, you have to pay cash or credit with how long the tenor is,"

said the General Chairperson of the Indonesian Textile Association (API), Jemmy Kartiwa Sastraatmaja in a written statement Wednesday (10/20/2021).

For information, the price of coal is currently still above US$ 200 per metric ton. It is feared that such a high price will make national coal entrepreneurs more likely to export instead of meeting domestic needs.

From existing data, recorded on Wednes- day (06/10/2021), the price of coal in the ICE Newcastle (Australia) market was recorded at US$ 236 per tonne, down 15.71% compared to the previous day which reached US$ 280 per ton. Despite the decline, the price still soared above US$ 200 per tonne, the highest even since 2008.

Seeing the high price of coal like that, Jemmy is worried that more and more industries will reduce their production capacity, there are even signs that a number of industries will close their businesses.

Jika tidak ditangani dengan benar, batu bara akan membuat efek berkesinambungan mulai industri kolaps sampai bermunculan pengangguran. Pemerintah harus segera melakukan intervensi guna menyelamatkan sejumlah industri di Indonesia yang meng- konsumsi batu bara dalam kegiatan operasionalnya. Hal ini seiring dengan harga batu bara yang meroket hingga mencapai di atas US$ 200 per metrik ton. Kegiatan operasional sejumlah industri bahkan tidak maksimal karena tingginya harga batu bara di antaranya sektor semen, tekstil, kertas, pupuk, hingga industri pengolahan dan pemurnian serta industri kimia lainnya.

“Pemerintah harus menetapkan selling price, harga maksimum batu bara untuk kebutuhan dalam negeri (domestic market obligation/DMO). Persyaratannya juga harus dicantumkan. Misalnya harus bayar tunai atau kredit dengan tenor berapa lama,” ujar Ketua Umum Asosiasi Per- tekstilan Indonesia (API), Jemmy Kartiwa Sastraatmaja dalam keterangan tertulisnya Rabu (20/10/2021).

Sebagai informasi, harga batu bara saat ini masih berada di atas US$ 200 per metric ton. Harga yang begitu tinggi dikhawatirkan akan membuat pengusaha batu bara nasional jor-joran ekspor ketimbang me- menuhi kebutuhan dalam negeri.

Dari data yang ada, tercatat pada Rabu (06/10/2021), harga batu bara di pasar ICE Newcastle (Australia) tercatat mencapai US$

236 per ton, anjlok 15,71% dibandingkan hari sebelumnya yang mencapai US$ 280 per ton. Meski anjlok, tetap saja harganya masih membubung di atas US$ 200 per ton, tertinggi bahkan setidaknya sejak 2008 lalu.

Melihat tingginya harga batu bara seperti itu, Jemmy khawatir akan semakin banyak industri yang mengurangi kapasitas produksinya, bahkan ada tanda-tanda sejumlah industri akan menutup usahanya.

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“If this happens, eventually the employees will be laid off again. We hope that doesn't happen," he said.

Jemmy asked coal producers to pay attention to domestic coal needs. The reason is, when compared to exports, the need for coal DMO is relatively small, only 25%. If these needs are met, the textile industry and other industries can operate in full or maximally.

"The government's intervention with the selling price will allow industry players to have a guide or benchmark price for coal DMO so that they can calculate the cost of production," he said.

Previously, Coordinating Minister for the Economy Airlangga Hartarto also conveyed a signal that the increase in coal prices could actually boomerang for the domestic industry. The reason is that the costs that must be incurred by the industry for its energy sources will be greater than usual.

But on the other hand, the trend of rising coal prices can be a blessing for Indonesia because it can increase state revenues.

"The challenge is how domestic coal remains competitive. This means that if the price is too high, the domestic industry will have difficulty obtaining energy because it is too expensive," he said.

Therefore, Airlangga emphasized the need for a balance between sectors so that the industry would not be harmed by the surge in coal prices.

"We have to push for a balance between these sectors," he said.

“Kalau ini terjadi ujung-ujungnya karyawan akan dirumahkan lagi. Kami berharap hal tersebut tidak terjadi,” ujarnya.

Jemmy meminta kepada produsen batu bara agar memperhatikan kebutuhan batu bara dalam negeri. Pasalnya, jika dibandingkan ekspor, kebutuhan DMO batu bara terbilang kecil, hanya 25%. Jika kebutuhan tersebut terpenuhi, industri tekstil dan industri lainnya bisa beroperasi secara full atau maksimal.

“Intervensi pemerintah dengan selling price-nya, akan membuat pelaku industri mempunyai panduan atau patokan harga untuk DMO batu bara sehingga mereka bisa berhitung untuk keperluan ongkos produksinya,” tandas dia.

Sebelumnya, Menko Bidang Perekonomian Airlangga Hartarto juga menyampaikan sinyalemen bahwa kenaikan harga batu bara justru bisa menjadi bumerang bagi industri dalam negeri. Pasalnya, ongkos yang harus dikeluarkan industri untuk sumber energinya akan menjadi lebih besar dari biasanya. Namun di sisi lain tren kenaikan harga batu bara ini bisa menjadi berkah bagi Indonesia karena bisa meningkatkan penerimaan negara.

"Yang menjadi tantangan bagaimana batu bara di dalam negeri tetap kompetitif.

Artinya, jika harganya terlalu tinggi industri dalam negeri akan kesulitan memperoleh energi karena terlalu mahal,”

ujarnya.

Karena itu, Airlangga menekankan perlu adanya keseimbangan antar sektor agar industri tidak dirugikan dari lonjakan harga batu bara ini.

“Kita harus mendorong keseimbangan antar-sektor tersebut,” tandasnya.

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Withstand Price Surges, China Will Boost Coal Production!

Lidya Julita Sembiring, CNBC Indonesia

S

EVERAL Chinese coal companies are ready to increase production so that prices do not go wild due to the very limited supply in the world.

As is known, China's thermal coal prices have jumped more than 200% this year to a record high. This was due to supply disruptions from a number of mines due to mining safety inspections, anti-corruption investigations, and flooding in key mining areas.

China Energy Group and Shanxi Jinneng Holding Group (SJAMG.UL), China's No.1 and No.8 coal miner, said they would raise output and steer prices back into a reasonable range.

They have pledged to keep the spot price of thermal coal with an energy content of 5,500 kilocalories shipped to Bohai Bay in northern China below 1,800 yuan ($282) per tonne, and prices for 5,000 kilocalories and 4,500 kilocalories of coal at 1,500 yuan and 1,200 yuan, respectively. .

The price of other thermal coal with a higher calorific value will not exceed 2,000 yuan per tonne.

Several other state-backed coal miners in China's main coal mining regions of Shanxi and Inner Mongolia have also launched similar price cap plans.

Chinese Vice Premier Han Zheng has said he will strictly regulate coal price speculation.

Tahan Lonjakan Harga, China Bakal Genjot Produksi Batubara!

Lidya Julita Sembiring, CNBC Indonesia

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EBERAPA perusahaan batu bara China siap menggenjot produksi agar harga tidak semakin liar akibat pasokan yang amat terbatas di dunia.

Seperti diketahui, harga batu bara termal China telah melonjak lebih dari 200% tahun ini ke rekor tertinggi. Hal ini disebabkan ter- ganggunya pasokan dari sejumlah tambang akibat inspeksi keselamatan pertambangan, penyelidikan anti-korupsi, dan banjir di wilayah pertambangan utama.

China Energy Group dan Shanxi Jinneng Holding Group (SJAMG.UL), penambang batu bara No.1 dan No.8 di China, mengatakan akan menaikkan output dan mengarahkan harga kembali ke kisaran yang wajar.

Mereka telah berjanji untuk mempertahan- kan harga spot batubara termal dengan kandungan energi 5.500 kilokalori yang dikirim ke Teluk Bohai di Cina utara di bawah 1.800 yuan ($282) per ton, dan harga untuk 5.000 kilokalori dan 4.500 kilokalori batu bara masing-masing 1.500 yuan dan 1.200 yuan.

Harga batu bara termal lainnya dengan nilai kalori yang lebih tinggi tidak akan melebihi 2.000 yuan per ton.

Beberapa penambang batu bara lain yang didukung negara di wilayah pertambangan batu bara utama China Shanxi dan Mongolia Dalam juga meluncurkan rencana batas harga yang sama.

Wakil Perdana Menteri China Han Zheng telah menegaskan akan secara ketat meng- atur spekulasi harga batubara.

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The state asset watchdog also urged state- backed companies to prioritize coal supply and asked power plants to build supplies of raw materials "regardless of cost".

On October 18, China's daily coal production stood at 11.6 million tons, an increase of around 11.2 million tons compared to the previous month. (mij/mij)

Pengawas aset negara juga mendesak perusahaan-perusahaan yang didukung oleh negara untuk memprioritaskan pasokan batu bara dan meminta pembangkit listrik untuk membangun persediaan bahan baku

"terlepas dari biaya".

Pada 18 Oktober lalu produksi harian batu bara China berada di 11,6 juta ton, naik sekitar 11,2 juta ton dibandingkan bulan sebelumnya. (mij/mij)

China is ready to intervene, return coal prices to a

reasonable range

Source: Channel News Asia

C

HINA is poised to intervene to cut soaring coal prices to ease mounting pressure on the country's economy, despite pledging to cut fossil fuel emissions.

The world's number two economy expanded more slowly than expected in the third quarter as the energy crisis deepened, official data showed this week, with power shortages and production cuts dragging on industrial output.

China's National Development and Reform Commission (NDRC) said Tuesday it was studying measures to intervene in coal prices, which have soared to record highs.

"The current price hike is completely deviating from the basics of supply and demand," the NDRC said in a statement, pledging to return prices to a "reasonable range", as quoted by Channel News Asia.

China siap intervensi, kembalikan harga batubara ke

kisaran wajar

Sumber: Channel News Asia

C

HINA siap melakukan intervensi untuk memangkas harga batubara yang melonjak guna mengurangi tekanan yang meningkat pada ekonomi negara itu, meski berjanji untuk mengurangi emisi bahan bakar fosil.

Ekonomi nomor dua dunia itu berkembang lebih lambat dari yang diharapkan pada kuartal ketiga karena krisis energi makin menggigit, data resmi menunjukkan pekan ini, dengan kekurangan listrik dan pengu- rangan produksi menyeret output industri.

Komisi Pembangunan dan Reformasi Nasional China (NDRC) mengatakan pada Selasa (19/10), sedang mempelajari langkah-langkah untuk campur tangan dalam harga batubara, yang melonjak dan mencapai rekor tertinggi.

"Kenaikan harga saat ini benar-benar menyimpang dari dasar-dasar penawaran dan permintaan," kata NDRC dalam sebuah pernyataan, berjanji untuk mengembalikan harga ke "kisaran yang wajar", seperti dikutip Channel News Asia.

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The NDRC warned that authorities would take a "zero tolerance" approach and

"firmly crack down" on activities such as spreading false information or coal price collusion.

In a separate notice on Tuesday, the NDRC stressed that coal mines should target daily production of more than 12 million tonnes, with local authorities ensuring production is maximized.

China is doing everything

Soaring prices and coal supply shortages, both factors behind China's recent blackouts, have fanned concerns about global supply chains.

Production disruptions in China could hit global exports and raise prices when the producer price index is already high.

Nearly 60% of China's energy-hungry economy is fueled by coal. However, the country of the giant wall has promised to be carbon neutral by 2060.

In recent months China has been hit by widespread power outages, forcing factories to suspend production as businesses are ordered to minimize energy use.

Chinese officials have done everything they can to combat the coal price rally as the winter months approach.

Mines have been ordered to increase coal production. Meanwhile, state-owned energy companies must ensure adequate fuel supply at all costs.

Local governments have also taken action, with the Qinhuangdao coal port reaching agreements with miners, power plants and rail operators to limit some supply costs, according to the Economic Daily.

China's coal inventories stood at 88 million tonnes, enough for 16 days, the NDRC added. Editor: S.S. Kurniawan

NDRC memperingatkan, pihak berwenang akan mengambil pendekatan "tanpa toleransi" dan

"menindak tegas" kegiatan seperti menyebarkan informasi palsu atau kolusi harga batubara.

Dalam pemberitahuan terpisah pada Selasa, NDRC menekankan, tambang batubara harus menargetkan produksi harian lebih dari 12 juta ton, dengan otoritas lokal memastikan produksi dimaksimalkan.

China melakukan segala cara

Lonjakan harga dan kekurangan pasokan batu bara, keduanya merupakan faktor di balik pemadaman listrik baru-baru ini di China, telah mengipasi kekhawatiran tentang rantai pasokan global.

Gangguan produksi di China bisa memukul ekspor global dan menaikkan harga saat indeks harga produsen sudah tinggi.

Hampir 60% ekonomi China yang haus energi didorong oleh batubara. Hanya, negeri tembok raksasa telah berjanji untuk menjadi netral karbon pada 2060 mendatang.

Dalam beberapa bulan terakhir China dilanda pemadaman listrik yang meluas, memaksa pabrik untuk menunda produksi karena bisnis diperintahkan untuk meminimalkan pengguna- an energi.

Pejabat China telah melakukan segala cara untuk memerangi reli harga batubara saat bulan-bulan musim dingin mendekat.

Tambang telah diperintahkan untuk meningkatkan produksi batubara. Sementara perusahaan energi milik negara harus memastikan pasokan bahan bakar yang memadai dengan segala cara.

Pemerintah daerah juga sudah mengambil tindakan, dengan pelabuhan batubara Qinhuangdao mencapai kesepakatan dengan penambang, pembangkit listrik, dan operator kereta api untuk membatasi beberapa biaya pasokan, menurut harian Economic Daily.

Persediaan batubara China mencapai 88 juta ton, cukup untuk 16 hari, NDRC menambahkan.

Editor: S.S. Kurniawan

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Coal Prices Continue to Drop, Here's the Issuer's Stock

Recommendations

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LOBAL coal prices continue to fall.

Analysts recommend the issuer's shares related to the commodity to be sold.

Head of Research at PT MNC Sekuritas Edwin Sebayang said the price of coal on Tuesday and Wednesday again experienced a sharp decline of 9.32 percent, so that for 6 consecutive days the price of coal fell by 19.25 percent.

This is as China is poised to intervene to cut soaring coal prices to ease the mounting pressure on the country's economy.

"So it is not excessive if investors need to immediately take profit-taking on coal- based stocks before it is too late amid the continued increase in the highest US bond yields since mid-May 2021, which in the future has the potential to bring down gold prices," he wrote in daily research, Thursday (21/10/2021).

On the other hand, currently the "stars of the field" are nickel, crude oil, and CPO which followed for two days when the prices of these commodities increased by 5.73 percent, 2.38 percent, and 2.5 percent, respectively.

"The increase in the prices of the three commodities combined with the increase in the DJIA Index by 1 percent has the potential to encourage the JCI to strengthen in trading this Thursday," he said.

Harga Batu Bara Lanjut Turun, Begini Rekomendasi Saham

Emitennya

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ARGA batu bara global masih terus turun. Analis merekomendasikan saham emiten yang terkait komoditas tersebut untuk dijual.

Kepala Riset PT MNC Sekuritas Edwin Sebayang menyebutkan harga batu bara pada Selasa dan Rabu kembali mengalami penurunan tajam hingga sebesar 9,32 persen, sehingga selama 6 hari berturut- turut harga batu bara turun sebesar 19,25 persen.

Hal ini seiring China siap melakukan intervensi untuk memangkas harga batubara yang melonjak guna mengurangi tekanan yang meningkat pada ekonomi negara itu.

"Sehingga tidak berlebihan jika investor perlu secepatnya melakukan aksi profit taking atas saham berbasis batubara sebelum terlambat ditengah berlanjutnya kenaikan yield obligasi AS tertinggi sejak pertengahan Mei 2021yang kedepannya berpotensi merontokan harga emas,"

tulisnya dalam riset harian, Kamis (21/10/2021).

Di sisi lain, saat ini yang menjadi "bintang lapangan" adalah nikel, minyak mentah, dan CPO yang menyusul selama dua hari ketika komoditas tersebut harganya meningkat masing-masing sebesar 5,73 persen, 2,38 persen, dan 2,5 persen.

"Kenaikan harga tiga komoditas tersebut dikombinasikan dengan naiknya Indeks DJIA sebesar 1 persen berpotensi mendorong IHSG untuk mengyat dalam perdagangan Kamis ini," ujarnya.

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For shares of listed coal companies, MNC Sekuritas recommends selling ITMG, ADRO, PTBA, HRUM, INDY, BUMI shares.

Disclaimer: This news is not intended to encourage buying or selling of shares. The investment decision is entirely in the hands of the reader. Bisnis.com is not responsible for any losses or gains arising from readers' investment decisions. Editor : Aprianto Cahyo Nugroho

Untuk saham emiten batu bara, MNC Sekuritas merekomendasikan jual saham ITMG, ADRO, PTBA, HRUM, INDY, BUMI.

Disclaimer: Berita ini tidak bertujuan mengajak membeli atau menjual saham.

Keputusan investasi sepenuhnya ada di tangan pembaca. Bisnis.com tidak bertanggung jawab terhadap segala kerugian maupun keun- tungan yang timbul dari keputusan investasi pembaca. Editor : Aprianto Cahyo Nugroho

Copper Rally Stops, China Becomes the Ringleader!

Robertus Andrianto, CNBC Indonesia

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OPPER prices were observed to fall in trading this morning. Investors took profit- taking after the price of this commodity rose 12.26% throughout September 2021.

The price of Chinese thermal coal which plunged in yesterday's trade also suppressed the pace of copper amid depleting supplies.

On Thursday (21/10/2021) at 08.35 WIB, copper price was recorded at US$

10,169.75/ton, down 0.46% compared to yesterday's closing price.

Profit-taking was carried out by investors after copper prices rose significantly and touched the highest level since June 2021.

The strengthening of copper prices was triggered by inventory in warehouses that continued to fall.

Copper inventories in the LME (London Metal Exchange) warehouse on October 20 were recorded at 172,025 tons, down 32.49% from the highest inventory on August 23, 2021 of 254,800 tons.

Reli Tembaga Terhenti, China Jadi Biang Keladi!

Robertus Andrianto, CNBC Indonesia

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ARGA tembaga terpantau turun pada perdagangan pagi ini. Investor melakukan aksi ambil untung setelah harga komoditas ini menguat 12,26% sepanjang September 2021. Harga batu bara thermal China yang terjun pada perdagangan kemarin juga menekan laju tembaga di tengah persediaan yang menipis.

Pada Kamis (21/10/2021) pukul 08.35 WIB harga tembaga tercatat US$

10.169,75/ton, turun 0,46% dibanding harga penutupan kemarin.

Aksi profit taking dilakukan oleh investor setelah harga tembaga menguat signifikan dan menyentuh level tertinggi sejak Juni 2021. Menguatnya harga tembaga dipicu oleh persediaan di gudang yang terus turun.

Persediaan tembaga di gudang LME (London Metal Exchange) pada 20 Oktober tercatat 172.025 ton, turun 32,49% dari persediaan tertinggi pada 23 Agustus 2021 sebesar 254.800 ton.

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Meanwhile, the plan to increase coal supply by the Chinese government made the price of thermal coal in the Zhengzhou market fall 6.35% in yesterday's trading (10/20/2021). This fall has a knock-on effect or spreads to the price of metals such as copper. CNBC INDONESIA RESEARCH TEAM (ras/ras)

Sementara itu, rencana menambah pasokan batu bara oleh pemerintah China membuat harga batu bara thermal di pasar Zhengzhou jatuh 6,35% pada perdagangan kemarin (20/10/2021). Kejatuhan ini menimbulkan efek knock-on atau menyebar ke harga metal seperti tembaga.

TIM RISET CNBC INDONESIA (ras/ras)

Indonesia plans to 'hit the brakes' on raw commodity exports: Jokowi

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NDONESIA is planning to “hit the brakes” on the export of all raw commodities in an effort to attract investment in onshore resource processing and create jobs, President Joko Widodo said on Tuesday.

Indonesia has banned a number of unprocessed ore exports including nickel, tin and copper in a bid to encourage downstream industries, including producing batteries for electric vehicles and aluminum industry, among others.

The government is currently conducting a study for the downstreaming of other commodities with a long-term goal of no longer selling just raw materials, the president, who is popularly known as Jokowi, said in an interview in the village of Bebatu on Borneo island.

A new policy would hopefully emerge next year, he said.

“Don’t be surprised. We had nickel (export ban) before. Next year, we may stop bauxite, the next year we may stop something else,” Jokowi said.

Under current regulations, Indonesia will ban bauxite shipments in 2023.

“We really want to hit the brakes on exporting raw materials because there is no value addition and it does not create jobs,” he said, adding that the policy would affect “all commodities.”

Stopping exports of unprocessed palm oil was being considered, he said, although he declined to provide an estimate of when such policy could be issued.

He said last week that Indonesia would no longer export the crude form of the vegetable oil in future in favor of refined products such as cosmetics, margarine and biodiesel.

Indonesia is the world’s biggest exporter of palm oil, thermal coal and tin. It is also major exporter of rubber and copper, among others.

Of 34 million tonnes of palm oil exports in 2020, 21% was in crude form. Source: Reuters

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Metso Outotec to deliver grinding mills and thickeners to nickel plant in Indonesia

Published by Jessica Casey, Editorial Assistant

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ETSO Outotec has been awarded a contract for the delivery of several horizontal grinding mills and thickeners to a greenfield nickel project in Indonesia. The value of the order is approximately €24 million, and it has been booked in Minerals’ 3Q21 orders received.

Metso Outotec’s scope of delivery includes five grinding mills with a total installed power of 10.6 MW, as well as 13 HCT high-compression thickeners, which are part of the company’s Planet Positive offering.

“We are pleased to have been chosen as the supplier of this key equipment for this major project. A diligent verification process with the customer confirmed that Metso Outotec grinding mills and thickeners will provide significant added value to their process. The customer selected our grinding mills based on robust, proven technology, and industry leading availability. The HCT thickeners are proven to provide the best washing efficiency, thus reducing the loss of nickel metal in leaching residue,” said Markku Teräsvasara, President, Minerals and Deputy CEO of Metso Outotec.

Nickel price surges to highest in seven years as supply dwindles

Bloomberg News

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ICKEL surged to a seven-year high in London amid concerns that there’ll be less supply of the key industrial metal to meet resilient demand from economies reopening as the pandemic retreats.

Vale SA, one of the top nickel producers, cut its production guidance for this year due to a strike at its Canadian mine, while the world’s largest refined nickel producer, MMC Norilsk Nickel PJSC, reported lower output in the third quarter. The Philippines, the second-largest producer of the metal used in kitchenware and electric car batteries, said output this year may be 10% less than the annual average, hampered by more frequent rains and fewer vessels coming in.

Nickel for three-month delivery on the London Metal Exchange settled 4.6% higher at

$20,963 a metric ton as of 5:53 p.m. local time, the highest since May 2014.

“Buying filtered in over the course of today’s session on the back of supply-side stress ranging from Vale reduced production guidance, Norilsk’s weaker production report, and Vale’s Brazilian mine stoppage at Onca Puma,” Michael Cuoco, head of hedge-fund sales for metals and bulk materials at StoneX Group.

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Prices were also helped by China’s softer nickel pig iron and refined nickel output figures for September and the return of Indonesian political export noise and adverse weather in the Philippines, he said. Nickel pig iron is a cheap substitute for refined nickel, which is used to make stainless steel — the largest end-use of nickel.

Vale’s nickel output will likely reach 165,000 to 170,000 tons this year, down from a previous projection of 200,000 tons, the company said Tuesday. That came a day after the Brazilian mining giant said its Onca Puma mine is again suspended by court.

Nickel production at Nornickel fell 23% to 129,858 tons in the first three quarters from the same period a year earlier, according to a statement.

The prospect of lower supplies comes as stainless steel demand improved in recent months, with aerospace and oil-and-gas industries rebounding from last year’s Covid-19 nadir.

Ongoing logistics woes from the pandemic, with shipping jams in the Atlantic, Pacific and Indian basins, make it more difficult for consumers to get raw materials such as nickel.

Expectations that there’ll be less nickel ores from top supplier Indonesia are also helping the price rally. The Southeast Asian nation indicated last month that it plans to either ban or tax exports of semi-processed products used to make stainless steel to keep more of the metal in the country and support a domestic industry focused on electric-vehicle batteries.

Indonesia has been known to reverse its own policies since the first export ban on unprocessed mineral products in 2014, BloombergNEF analyst Allan Ray Restauro said in a note. Exports were permitted again in 2017, but only to companies with operational smelters.

The ban on exports was then brought forward two years early to 2020.

BloombergNEF expects the nickel price to remain elevated above $18,000 a ton, although it will continue to underperform copper and aluminum. (By Yvonne Yue Li)

Can Russia and Mongolia Replace Australia’s Coal Supply to China?

As China grapples with an energy shortage, it is increasingly looking to source coal from its northern neighbors.

By Bolor Lkhaajav

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INCE the beginning of the pandemic, China has faced several unexpected challenges. The trade spat with Australia, the continued South China Sea shipping congestion, and a shortage of coal supply are testing the country’s economic capabilities and problem-solving skills.

China has stepped up its efforts to engage Russia, Mongolia, and other third parties to fill their coal shortage.

Exactly a year ago, in October 2020, Chinese state-owned companies were ordered to stop the import of Australian coal, widely viewed as retaliation for Australia’s more critical stance on China. The restrictions on Australian coal naturally pose a new opportunity for other parties in the region, particularly in East Asia and Northeast Asia, to fill China’s coal shortfall.

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But apparently it wasn’t enough. In June 2021, Chinese factories began to report power outages and electricity shortages. The Lantou Group’s September 28 report showed the provinces with the most severe power consumption problems to include Xinjiang, Qinghai, Yunnan, Jiangsu, Fujian, Guangxi, and Guangdong, where China’s major manufacturing companies are located.

In September alone, major supplier companies were struggling under power constraints.

Pegatron, a company that produces parts for and assembles iPhones for Apple, reported

“limiting electricity supply” in their Kunshan City factory. Moreover, the Global Times reported that “A textile factory based in East China’s Jiangsu Province received a notice from local authorities about power cuts on September 21. It will not have power until October 7 or even later.” The following week, on September 27, the national broadcaster CCTV reported that Heilongjiang, China’s northernmost province, will experience an acute power shortage.

China’s central and local governments alike are now actively looking for solutions to the domestic energy shortage before the winter, particularly in its northeastern provinces, which will face freezing temperatures in the coming months.

Amid the energy shortages, Beijing is carefully considering transportation costs and tariffs as the price of coal continues to hike. According to the Global Times, China is currently seeking imports of coal from “Indonesia, Russia, and Mongolia. China’s Zhejiang province had brought in its first shipment of thermal coal from Kazakhstan.” From a supply point of view, Russia, Mongolia, and Indonesia are closer to China than Australia. Local governments based in Northeast China, such as Heilongjiang province, have already chosen to work with the Russians in the past by connecting a local power plant to power transmission from Amur, Russia.

Russia, a major energy exporter, is already playing an integral part for both Mongolia’s and China’s energy sectors. In the past year, Russia’s coal supply to China has grown steadily. In the first half of 2021, Russia exported 24.15 million tons of coal to China, up from just 16.2 million tons in first six months of 2020 – nearly a 50 percent increase.

China’s other northern neighbor, Mongolia, is also a potential solution to its energy crisis. A month after the Chinese ban on Australian coal, Mongolia’s coal exports to China had grown by 17.17 percent. More recently, according to data from Mongolian Customs, “from January to September, Mongolia’s coal exports totaled 11.9 million tons, of which 11.3 million tons was exported to China, accounting for about 95 percent of the total.” However, while China is a major destination for Mongolia’s coal exports, there is still plenty of room for improvement.

The Mongolian Mining Corporation Interim Report of 2021 noted that as of August 2021,

“China’s coking coal imports from Mongolia reached 8.3 Mt, representing a 13.7% year-on- year increase.” However, despite the boost China’s total imports of coking coal still fell by a whopping 41.5 percent year-on-year, due largely “to the sharp decline of supply from Australia.” In the first half of 2020, Australia had supplied 24.1 metric tons of coal to China;

that’s almost three times what Mongolia was exporting to China in the same period of 2021, even after increasing its supply. Without supply from Australia, China’s coal imports through the first half of 2021 dropped by 22.3 metric tons.

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The Mongolian Mining Corporation noted that “supply from Mongolia was also disrupted in the second quarter of 2021 after Chinese authorities strengthened preventive measures due to increased COVID-19 cases in Mongolia.” In late August, Gashuunsukhait Border Station, a major transit hub for imports and exports was closed and no coal shipments were going through.

However, the two sides were able to hammer out a solution that seems to be working. On October 20, Mongolian news agency Montsame reported that, since the end of September, Mongolia’s coal exports had jumped 60 percent compared to the preceding three-week period.

On October 12, during an online meeting with Mongolian Prime Minister Oyun-Erdene Luvsannamsrai, Chinese Premier Li Keqiang stated that China “hopes to carry out diversified energy cooperation, and welcomes a larger volume of coal trading between the two countries to achieve win-win results… and ensure a smooth and secure energy supply chain.” Moreover, Mongolian Foreign Minister Battsetseg Batmunkh, told the press during her visit China in July 2021 that the two countries have agreed to boost economic activities, including but limited to expanding Mongolia’s coal exports to China.

Given Mongolia’s abundance of coal and China’s heavy manufacturing industry, Mongolian coal is more than a band-aid solution for China’s domestic energy shortage. As the global coal price continues to hike, steep transportation costs and tariffs are a major dealbreaker for the Chinese, further incentivizing sourcing coal closer to home. As for Mongolia, coal exports – and the mining industry at large – will continue to be the country’s primary source of investment and business. This is an opportunity that cannot be missed, especially considering Mongolia’s slow economic growth and prolonged problematic deal with Rio Tinto.

Australia's South32 says Q1 met coal output drops 15%, sees prices rising

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USTRALIAN diversified miner South32 Ltd (S32.AX) said on Thursday higher metallurgical coal prices would help offset a 15% drop in first-quarter production of the steelmaking material.

A power crunch, environmental curbs and a debt crisis gripping China's property market has clouded the outlook for the steelmaking material, sending prices higher. However, supply outside China has so far remained inelastic to the sharp price increases.

"While the lower total volumes are expected to adversely impact Operating unit costs, realised prices will benefit due to

fewer sales of the lower-priced product and the current strong metallurgical coal market," the company said.

Production of metallurgical coal fell to 1.6 million tonnes (Mt) in the three months to Sept. 30 from 1.9 Mt a year earlier, missing RBC's estimate of 1.7 Mt.

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Metallurgical coal sales, however, rose 1% to 1.5 Mt.

The world's largest producer of manganese ore said quarterly output of the commodity rose about 7% to 1.6 million wet metric tonnes (wMt), compared to RBC's estimate of 1.4 wMt.

Reporting by Tejaswi Marthi and Riya Sharma in Bengaluru; Editing by Maju Samuel

Top producers vow to cap coal prices, drive up output in China

Source: Agencies

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OME of China’s major coal producers have vowed to cap thermal coal prices this winter and next spring, after the government asked state-backed firms to ensure stable coal and power supply “regardless of costs.”

China’s thermal coal prices have surged over 200 percent this year to record highs as rising energy demand, mining safety inspections and floods at major mining regions hurt supplies.

China Energy Group and Shanxi Jinneng Holding Group, the No. 1 and No. 8 coal miners by production in the country, have said they will drive up output and guide prices back to a

“reasonable range.”

They have vowed to keep spot prices of thermal coal with an energy content of 5,500 kilocalories delivered to Bohai Bay in northern China below 1,800 yuan (US$282) per ton, and prices of 5,000 kilocalorie and 4,500 kilocalorie coal at up to 1,500 yuan and 1,200 yuan, respectively.

Prices of other thermal coal with higher calorific values will not exceed 2,000 yuan a ton, the firms said in statements issued late on Tuesday.

Some other state-backed coal miners in China’s top coal mining region of Shanxi and Inner Mongolia are also rolling out a similar price cap plan, two traders said on condition of anonymity.

Longmay Mining Holding Group Co Ltd, the largest coal producer in northeast Heilongjiang Province, started to build four new mines yesterday. Sun Chengkun, the firm’s board chairman, said that the new projects in Jixi, Shuangyashan, Hegang and Qitaihe cities would add more than 4 million tons of annual coal production capacity.

Vice Premier Han Zheng has called for “firm measures” to strictly regulate coal price speculation.

The state asset watchdog has also urged state-backed firms to prioritize coal supplies and asked power plants to build up feedstock inventory “regardless of costs.”

The National Development and Reform Commission said that government intervention in coal prices was discussed at a meeting of key producers, given that the “current price increase has completely deviated from the fundamentals of supply and demand.”

“The heating season is approaching and the price is still showing a further irrational upward trend,” it said.

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The harsh statement triggered a sell-off in energy futures yesterday. The most-traded thermal coal contract on the Zhengzhou Commodity Exchange, for delivery in January, fell to 1,755.40 yuan (US$275) a ton, having touched an all-time peak of 1,982 yuan in Tuesday’s daytime session amid a widening power crunch and the onset of cold weather.

The 8 percent drop in coal futures was the steepest plunge since August, although prices are still up some 260 percent year-to-date. On the Dalian Commodity Exchange, prices for steelmaking raw materials, coke and coking coal fell around 9 percent.

In a separate statement, the NDRC said it would ensure coal mines operate at full capacity and aim to achieve an output of at least 12 million tons per day.

It put the production rate at a 2021 high of over 11.6 million tons as of October 18, up more than 1.2 million tons from late September after an all-out effort to boost supply that has included approvals for new coal mines.

In a third statement, the NDRC said the Zhengzhou exchange should pay close attention to coal price fluctuations and said it would step up supervision of prices, while cracking down on speculation — something the Chinese authorities have repeatedly blamed for high commodity prices this year.

The Zhengzhou bourse said that from yesterday’s night session it would raise the trading limit on thermal coal contracts to 10 percent and imposed limits on some members’ trading positions.

Thermal power still takes up a large share of China’s energy output, accounting for about 70 percent of its power generation. The heating season has added pressure on power supply in north China.

The country is making all-out efforts to ensure power supply after power outages halted factory production and hit families in some regions. China’s daily coal production was at 11.6 million tons as of October 18, versus about 11.2 million tons last month.

Top 10 largest gold mines in Canada in Q2 2021 - report

By Vladimir Basov

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ASED on quarterly production results, Kitco estimates that in Q2 2021, gold production in Canada was 1,570 koz, 34% higher compared to 1,174 koz produced in Q2 2020.

Jointly owned by Yamana Gold and Agnico Eagle, Canadian Malartic was the largest gold mine in Canada in Q2 2021. Canadian Malartic had an exceptional second quarter, with production of 184.2 koz of gold reached all-time quarterly highs, exceeding plan due to higher grade and recoveries from the ore found deeper in the Malartic pit. Gold production in Q2 2021 increased by 62% when compared to the prior-year period primarily due to higher throughput levels and higher gold grades.

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