中國低質煤禁令將打擊全球礦商

The world’s miners, already smarting from a steep drop in iron ore prices, are about to be hit by a Chinese ban on low-quality coal that comes into effect next year.

早已深受鐵礦石大幅降價之苦的全球礦商，將再次面臨中國對低質煤炭禁令的打擊。這一禁令將從明年開始生效。

The National Development and Reform Commission, China’s state planner, has banned the burning of coal with ash content of more than 16 per cent or sulphur content of more than 1 per cent from 2015 in populous and prosperous Eastern cities that are the focus of national efforts to fight air pollution.

中國政府規劃機構——中國國家發展和改革委員會 (NDRC)規定，從2015年起，中國東部城市將禁止焚燒灰分高於16%或硫分高於1%的煤炭。中國東部城市人口衆多、經濟發達，是中國對抗空氣污染的重點區域。

That would in effect bar the import of lower-quality coal from Australia, southern Africa and elsewhere, since the cities along the east coast are also the biggest consumers of imported coal.

這一禁令實際上等於禁止中國從澳大利亞、非洲南部以及其他地區進口低質煤炭，因爲華東沿海城市是進口煤炭的最大消費者。

The move comes as a glut of coal builds in China, placing pressure on prices and buffeting local economies in China’s coal heartlands.

該措施出臺之際，中國正日益面臨煤炭供大於求的局面，這爲煤炭價格帶來了下行壓力，煤炭中心產區的地方經濟也因此遭受打擊。

“Eastern China coal demand is peaking this year, sooner than expected due to pollution curbs, long-distance transmission from inland power plants and a flood of new hydropower projects coming online,” said Alex Whitworth, of energy consultancy IHS in Beijing.

北京IHS能源諮詢機構的亞歷克斯•惠特沃思表示：“由於治理污染、來自內地發電廠的遠程輸電以及大量新水電項目上線，今年中國東部對煤炭的需求正在見頂，這比人們預期得更快。”

The new regulations ban the mining or import of low-grade coal with ash content above 40 per cent or sulphur content above 3 per cent. They restrict the transport of coal with ash content of more than 20 per cent or sulphur content of more than 1 per cent.

新規定同時禁止開採或進口灰分高於40%或硫分高於3%的低質煤炭。此外，規定還對灰分高於20%或硫分高於1%的煤炭的運輸作出限制。

Daniel Morgan, analyst at UBS in Sydney, said many Australian exporters that did not meet the new specifications could respond by washing or blending coal. “This would require a massive sampling and compliance regime in China in order to be implemented,” he added.

瑞銀(UBS)悉尼分行的丹尼爾•摩根(Daniel Morgan)表示，許多不符合新標準的澳大利亞出口商可能會通過沖洗或混合煤炭應對這一禁令。他補充說，“要實施這一禁令，中國必須建立大規模抽查與合規體制。”