Coal Mongolia 2017: Mongolia-China coal business forum starts

B.Erdenechimeg

2017-09-07 17:02 GMT+8

ULAANBAATAR (GoGo Mongolia) - 7th annual “Сoal Mongolia-2017” international coal trade, investment conference, and exhibition is taking place on Sep 6-9 in Shangri-La Hotel Ulaanbaatar. 

The second session of the conference starts with Mongolia-China Coal Business Forum. 

Sun Shouren, Deputy Secretary General of China National Coal Association, Director of Coal Construction Association talks about China Coal Industry development prospects. 

He notes: "China is the world's largest coal producer and consumer. China uses 41 percent of the world coal consumption. 

Energy consumption is growing and changing worldwide. The time to love nature, support the green development and to create the environmentally friendly production has come. I must mention that Chinese Government is implementing a visionary and sustainable policy to develop the country`s energy and coal sectors. Our main subjective is to increase the number of fully automated plants equipped with the latest technology. We will continue to fulfill our international obligation to reduce greenhouse gases by introducing environmentally friendly technology. 

I believe that many positive and mutually beneficial decisions will come up in relations between our two countries through coal sector".

Next speech on Role of Mongolia in Volatile Met Coal Markets is delivered by Edwin Yeo, Senior Managing Editor, Steel Raw Materials, S&P Global Platts. 

"Coking coal price fluctuated over the past decade, exceeding three times above 300 USD. It shows that is a supply-dependent market. 

China is a major buyer and Australia is a major supplier. Thus, the price changes depend on this two countries. This year, coking coal price rose by 30-49 percent. This was related to the downturn in Australia's supply and four industrial accidents in China. 

As Mongolia exports the same amount of coking coal to Canada, it ranks high position in the world market. Depending on the geographical location, Mongolia supplies 99 percent of its coal export to China. It means that Mongolia has taken its position in the Chinese market.

The quality of Mongolian coal is reasonable which can replace Australian coal and could be mixed with Chinese coal". 

He continues his speech about steel supply. 

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