<
https://ieefa.org/resources/hsbc-joins-major-miners-turning-away-further-metallurgical-coal-mine-development>
"The apparent end of the unofficial Chinese ban on coal imports from Australia
is unlikely to have a significant impact on Asian seaborne thermal coal markets
but it may have some impact on metallurgical coal, of which Australia is by far
the largest exporter.
However, distant clouds may be starting to gather for metallurgical coal, and
miners and financiers already appear to be noticing.
China’s crude steel production dropped for the second successive year in 2022.
The end of COVID lockdowns and a recovery in its slumping property market could
see a rise this year, but in the longer term China’s maturing economy is going
to need less steel.
In addition, the Chinese government is targeting peak steel emissions no later
than 2030 and an increase in production from scrap steel recycling through
electric arc furnaces that don’t use coal from 9% to 15% by 2025.
While India becomes the key steel growth market, demand for imported
metallurgical coal in China – which produces the majority of the world’s crude
steel – is heading for long-term decline.
Peak carbon emissions in the Chinese steel sector may be achieved sooner than
2030.
In addition, as IEEFA noted in August 2022, the steel technology transition
away from coal and towards hydrogen-based processes is gathering pace and
likely to happen faster than most expect.
Since then, there have been some key developments that suggest that miners and
financiers are beginning to come to a similar conclusion."
Via
Future Crunch:
<
https://futurecrunch.com/good-news-tropical-diseases-womens-china-miyawaki-amazon/>
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
