It is reported that Australian geologists recently discovered a huge lithium deposit in a remote exploration site in Pilbara.

This is the latest example of the discovery of lithium ore in Australia, further consolidating Australia’s position as the world’s largest supplier of key components of lithium-ion batteries.

“Australia is now the world’s lithium capital, and Pilgangoora is one of the largest lithium mines in the world.” Neil Biddle, one of the team’s geologists and co-founder of Pilbara Minerals, said, “We (Australia) are global leaders in gold and iron ore, and we can achieve the same success in lithium mining.”

It is reported that the company’s lithium ore and processing plant went into operation last November.

Pilgongura Mine is one of six lithium mines opened in Western Australia in the past two years. Optimistic market forecasts for sales prospects of electric vehicles and energy storage systems have led to a surge in global demand for battery raw materials, and these lithium mines have emerged as the times require.

UBS predicts that by 2020 Australia will surpass Latin American rivals in lithium production, accounting for half of global production, putting a country known for exporting highly polluted coal and iron ore at the forefront of a green energy revolution.

The lithium boom is attracting huge investments in new mines, and some investors have pledged to invest A$3 billion in five lithium hydroxide refineries.

These investors include heavyweight companies such as Albemarle in the United States, Sociedad Qumicay Minera in Chile and Tianqi Lithium in China, as well as a large number of small miners and new entrants in Western Australia.

This is part of a broader effort by global mining companies to explore, mine and process battery raw materials, including nickel, cobalt and graphite.

Australia is seeking to profit from this frenzy by encouraging companies to move beyond mining and ore processing and invest in more complex precursor production operations (metal and chemical mixtures used to produce battery cathodes).

This is the most profitable link in the supply chain. According to the World Economic Forum (WEF), it will boost the global lithium-ion battery market from $60 billion in 2017 to $100 billion in 2025.

In Perth, the Western Australian government is even studying whether the state can become the center of niche batteries. In recent years, the state has failed to attract such value-added activities in the iron ore boom.

“We never succeeded in steel because other people already have a foothold in that area,” said Bill Johnston, Mining Minister of Western Australia.

“But it’s about new needs, not existing ones… This is a potentially valuable opportunity.

Not everyone believes that.

Skeptics warn that if sales of electric vehicles are disappointing or optimistic predictions that lithium demand will triple in 10 years prove too optimistic, the supply boom could collapse. At the same time, advances in battery technology may also lead to alternatives to lithium, which may reduce demand.

There are also warnings that lithium prices are volatile and lack the transparency of other battery materials (such as nickel) traded on the London Metal Exchange (LME).

In Asia, the price of lithium carbonate, the most widely used form of lithium, has fallen by a third since the beginning of last year and is now at a two-year low, according to data compiled by Benchmark Mineral Intelligence, a research institute.

Morgan Stanley estimated in February last year that prices would fall by 45% by 2021 as a number of low-cost brine lithium extraction projects in Chile were launched. The bank predicts that this development will challenge a new generation of producers in Australia and China.

From 2016 to 2020, the annual production of lithium by Australian mining companies will nearly triple to 180,000 tons, far exceeding the competitors of Chile, Argentina and China, accounting for about half of the world’s total supply.

The factors driving Australia’s dominance in the market include delays in Latin American projects, rapid delivery of Australian projects, and increased customer preference for lithium hydroxide (rather than lithium carbonate) products as a result of changes in battery technology.

At present, Australia has become a world leader in battery material mining and will soon become a major lithium hydroxide processing country.

However, further up the value chain, manufacturing battery precursors, cathode materials and niche batteries is a much more difficult challenge. At present, China, Korea and Japan, which are the world’s leading countries, have a pioneering advantage, expertise and a lower cost base than Australia.

“From mining underground lithium to making batteries, ores, spodumene, hydroxides, precursor chemicals, and anodes and cathode batteries are needed. At present, we are dominant in the first two markets and are close to having a large share in the lithium hydroxide market.

Johnston said. “(We now need to) make sure that we take every step along this path, and then, perhaps in the future, there will be specific reasons to make batteries in Australia.”

According to Trade Arabia Mana on February 13, Shaikh Mohammed Bin Khalifa AL Khalifa, Bahrain’s oil minister, said that the Middle East region is expected to become the center of the ethylene industry because it has the ability to supply raw materials at competitive prices. At the opening ceremony of the Third Ethylene Middle East Ethylene Technology Conference and Exhibition (EMET), Shaikh Mohammed said that the Arabian Gulf region is the world’s major ethylene supplier and occupies an important position in the field of petrochemical industry. He stressed that the best way to determine how to make profits from the ethylene market was to understand the trends and upcoming changes in this important industry. The Minister stressed the importance of sustainable development of the bio-petrochemical industry, which plays a key role in achieving global competitive advantage by attracting technology and manpower. In addition to meeting the requirements and expectations of customers who undoubtedly contribute to reducing costs, the Minister stressed that sustainability is the only way to ensure the sustainability of success and prosperity.

Futures Daily reported on February 15: Data released by the General Administration of Customs on February 14 show that in January this year, China’s total value of import and export of goods trade was 2.73 trillion yuan, an increase of 8.7% over the same period last year.

“In January, China’s foreign trade imports and exports continued to maintain a steady and positive momentum, and achieved a good start.” A spokesman for the Ministry of Commerce said this at a regular press conference held by the Ministry of Commerce on the same day.

Data show that in January, China’s exports increased by 13.9%, imports by 2.9%, and trade surplus by 27.116 billion yuan, an increase of 1.2 times. In dollar terms, the total value of China’s imports and exports in the same period was 395.98 billion US dollars, an increase of 4%. Among them, $217.57 billion in exports, an increase of 9.1%, $178.41 billion in imports, a decrease of 1.5%, and $39.16 billion in trade surplus, an increase of 1.1 times.

Analysts believe that the growth rate of China’s imports and exports in January is better than expected, especially the export growth has rebounded considerably, reversing the sharp decline of China’s imports and exports in December last year.

“First of all, it is influenced by the factors of the Spring Festival. Trade enterprises tend to increase exports and reduce imports before the Spring Festival, in order to save inventory costs during the Spring Festival. Because this year’s Spring Festival is earlier than last year’s, the Spring Festival effect is more reflected in January, making January’s export performance relatively better. Secondly, the low export base in the same period last year led to a marked rebound in export growth in January compared with December last year. Wang Jun, president of Founder Medium-term Futures Research Institute, told Futures Daily.

From the perspective of trade types, in January, China’s general trade imports and exports reached 1.66 trillion yuan, an increase of 13%, accounting for 60.9% of China’s total foreign trade value, an increase of 2.3 percentage points over the same period last year, showing a rapid growth and an increase in the proportion. The import and export of processing trade amounted to 680.7 billion yuan, down 0.9%, accounting for 24.9%, down 2.4 percentage points. In addition, China’s import and export of bonded logistics amounted to 279.73 billion yuan, an increase of 9.3%, accounting for 10.2% of China’s total foreign trade value.

From the perspective of major trading partners, China’s imports and exports to the major markets of the European Union, ASEAN and Japan have increased, and the growth rate of imports and exports along the “one belt and one way” countries is higher than the whole.

Specifically, in January, trade between China and Europe totaled 444 billion 840 million yuan, an increase of 17.6%, accounting for 16.3% of China’s total foreign trade; the total value of China’s trade with ASEAN was 356 billion 600 million yuan, an increase of 7.8%, accounting for 13.1% of China’s total foreign trade; China’s total imports and exports of all countries along the belt and road increased by 11.5%, increasing by 2.8 percentage points nationwide, and accounting for 28.2% of China’s total foreign trade. The proportion increased by 0.7 percentage points.

Some experts said that, regardless of the type of trade or trading partners, it is not difficult to see that the overall stability of China’s foreign trade has not changed.

“In January, China’s exports to its major trading partners maintained growth, and the sharp rebound in export growth to the EU and ASEAN countries greatly boosted China’s export growth in that month.” Yide Futures macroeconomic analyst Shaolina said.

The data also show that in January, imports of crude oil, natural gas and other commodities increased, imports of iron ore and soybeans decreased, and the average price of commodity imports rose and fell mutually. Specifically, in the same month, China imported 91.26 million tons of iron ore, a decrease of 9.1%; 42.6 million tons of crude oil, an increase of 5.1%; 33.5 million tons of coal, an increase of 19.5%; 7.38 million tons of soybean, a decrease of 13%; 9.81 million tons of natural gas, an increase of 26.8%; 33.8 million tons of refined oil, an increase of 17.5%; 3.15 million tons of plastics in primary shape, an increase of 7.4%; 1.18 million tons of steel, an increase of 480 tons of unwroughed copper and copper, an increase of 82.2%. %. In addition, the import of mechanical and electrical products was 519.63 billion yuan, down 1.6%.

Looking ahead to the future market of commodities, Shaolina believes that, on the whole, the long-term downward pressure of commodity prices in China still exists, “in the near future, more oscillating prices under the influence of policies, with limited upward space”.

In December 2018, rubber prices rose as trade tensions between the United States and China cooled. However, as the world economy is still facing multiple risks, the rubber market is under pressure of falling prices.

Wu Huangying, secretary-general of the Vietnamese Rubber Association, said that although there were still many difficulties, the export volume of natural rubber, rubber products and rubber wood was increasing. He disclosed that the rubber price subsidy will continue to be implemented between now and March 1, when the United States and China withdrew from the tax increase.

Looking ahead to the first half of 2019, the export of Vietnamese rubber to China, the largest market, will also slow down as China’s economic growth slows down. In order to achieve sustainable growth of rubber export, he suggested that Vietnamese enterprises should take the initiative to expand the market and avoid excessive dependence on the Chinese market.

According to the statistics of Vietnam Customs General Administration, in December 2018, Vietnam’s rubber export volume reached 190,000 tons, with an export volume of 230 million US dollars. Its export volume and export volume increased by 5.8% and 2.9% annually, while its export volume increased by 12.7% and its export volume decreased by 5.6% year-on-year.

According to Dow Jones on February 12, Bank of America Merrill Lynch analysts said that OPEC’s share of the global oil market continued to decline, as the organization’s oil production stagnated and U.S. producers’oil production gradually increased.

The OPEC member states, led by Saudi Arabia, have most of the world’s oil reserves, but production has stagnated in recent years, while funds have poured into American shale oil producers.

As a result, OPEC’s share of global oil supply has declined. Bank of America Merrill Lynch, in its report to clients, said it expects to maintain this momentum between 2019 and 2024 due to production cuts, sanctions and inadequate investment.

In 2018, OPEC reached an agreement with 10 non-OPEC oil producers, including Russia, to cut crude oil production by 1.2 million barrels per day in the first half of this year, which is one of the measures aimed at curbing market oversupply and boosting oil prices.

In addition, the bank expects that OPEC’s new capacity in the next six years will be lower than that in the past six years.

Between 2013 and 2018, new projects will bring about a total of 7 million barrels per day of new oil production to OPEC, while potential new projects between 2019 and 2024 will bring about nearly 4 million barrels per day of new oil production.

Sanctions are expected to further limit Iranian production, which could fall below 10 million barrels a day in Saudi Arabia.

So Bank of America Merrill Lynch expects OPEC’s supply to drop from 31.9 million barrels a day in 2018 to about 29 million barrels a day in 2024, and its market share will decline accordingly in the medium term.

According to Houston Bloomberg News, as OPEC cuts production and U.S. sanctions against Venezuela begin to curb its exports, the number of foreign oil flowing into the U.S. coast is declining.

In January, OPEC and its partners’crude oil shipments to the United States fell to 1.41 million barrels a day, the lowest level in five years, according to data from cargo tracking and intelligence firm Klager. The reduction in Iraqi imports and the dramatic reduction in Saudi Arabia’s production have contributed to the decline in transport volumes.

Meanwhile, Venezuela’s exports to the United States fell by nearly 30%. The reason is that nearly half of the crude oil has not yet entered the U.S. ports, and U.S. sanctions may leave the remaining crude oil in the Gulf. According to Kogler, nearly 7.6 million barrels of Venezuelan crude oil are floating in the Gulf of Mexico.

I. Basic Situation of Industry Operation

(1) Production has increased steadily and investment has recovered. In 2018, the output of ten kinds of non-ferrous metals was 56.88 million tons, an increase of 6% year on year. Among them, the output of copper, aluminium, lead and zinc was 9.03 million tons, 35.8 million tons, 5.11 million tons and 5.68 million tons, respectively, which increased by 8.0%, 7.4%, 9.8% and -3.2% year on year, while the output of copper and aluminium was 17.16 million tons and 45.55 million tons, respectively, which increased by 14.5% and 2.6% year on year. In 2018, the investment in fixed assets in non-ferrous industry increased by 1.2% year on year. Among them, the investment in mining and mineral processing decreased by 8% year on year, while the investment in smelting and processing increased by 3.2% year on year. The scale expansion has shifted to increasing technological innovation such as environmental protection and safety, as well as research and development of high-end materials and new technologies.

(2) Price volatility has fallen, and the benefits of the industry have declined substantially. In 2018, the average spot prices of copper and lead were 50689 yuan/ton and 19126 yuan/ton, respectively, rising by 2.9% and 4.1% year-on-year respectively, with an increase of 26 and 22 percentage points. The average spot prices of aluminium and zinc were 14262 yuan/ton and 23674 yuan/ton respectively, down by 1.8% and 1.7% year-on-year. The main business income of non-ferrous Enterprises above the scale is 5428.9 billion yuan, an increase of 8.8% over the same period of last year; the profit of 185.5 billion yuan, a decrease of 6.1% over the same period of last year; the profit of mining and processing is 41.6 billion yuan, which is the same as that of last year; the profit of smelting and processing is 67.9 billion yuan and 75.6 billion yuan, respectively, a decrease of 10.2% and 5.6% over the same period of last year, especially that of aluminium industry, whose profit declines by

(3) The situation of import and export has changed and positive progress has been made in overseas investment. The annual export of unwrought rolled aluminium and aluminium products was 5.8 million tons, an increase of 20.9% over the same period of last year. With the implementation of the policy of prohibiting foreign garbage entry, the import of copper scrap dropped 32.2% and the import of refined copper increased 15.5% year on year. Overseas resources development has been vigorously promoted, and overseas projects such as China Aluminum Group, Minmetals Group, Zhongjin Lingnan and Weiqiao have made new progress.

(4) Structural reform on the supply side has been deepened and the transformation and upgrading of the industry has been accelerated. Production capacity control and restructuring achieved results. More than 3.3 million tons of electrolytic aluminium production capacity was transferred to energy-rich areas such as Inner Mongolia and Yunnan through capacity replacement. China Aluminum integrated Yunnan metallurgy, Shandong Weiqiao Holdings Co., Ltd. and other joint restructuring continued to advance. De-leveraging has made progress, with the industry’s asset-liability ratio of 62.2%, down 0.6 percentage points from a year earlier. With the acceleration of filling plate, 7050 full-size aluminum alloy thick plate has been licensed to install, aluminum air battery and nano-ceramic aluminum alloy have been industrialized, energy consumption of copper and aluminium smelting has been declining, and the level of green development has been continuously improved.

II. Problems Faced

(1) Costs are rising and consumption is sluggish, and the pressure on the operation of the industry is increasing. From the production side, affected by the rising cost of raw and auxiliary materials such as minerals, raw materials, coal, electricity and the increasing investment in environmental protection, the main business income cost per 100 yuan in the industry in 2018 is higher than the average industrial level of 3.97 yuan, an increase of 0.58 yuan over the same period of last year, especially the average comprehensive cost of electrolytic aluminium. From the consumer side, the traditional consumption fields such as real estate, electricity, automobile and household appliances continue to weaken, and the new application fields with large quantity, wide range and strong driving force need to be expanded. In addition, private enterprises are an important part of the non-ferrous industry, but because of the high cost of financing and heavy non-operational burden, there are still barriers in undertaking major projects and other aspects, and the development pressure is greater.

(2) The low-end surplus and shortcomings are prominent, and the deep-seated problems of industrial structure are prominent. Strictly controlling the new capacity of electrolytic aluminium is still arduous. There is a risk of overcapacity in some low and middle-end processing areas. There is also a rapid expansion of stage capacity in some emerging areas such as lithium salts and precursors of ternary materials. There are shortcomings in high-end materials and green smelting. The key non-ferrous materials for aerospace and integrated circuits are still dependent on imports. In 2018, the unit price of aluminium imports is 1.9 times that of exports. Some smelting industries still lack industrialized technical support to achieve special emission limits. Pollution prevention and control is still an important bottleneck restricting the green development of the industry.

(3) The international trade situation is complex and the development environment is becoming increasingly severe. With the increase of uncertainties in the global economic trend and the substantial impact of trade friction, it is difficult to sustain the sustained growth of aluminium exports. The blockage of exports of non-ferrous terminal consumer goods such as electromechanical, automotive and other non-ferrous consumer goods will also increase the pressure of industry operation. Because of the strong financial attribute of non-ferrous metals, the indirect impact of trade frictions on the industry is even greater than the direct impact, impacting market confidence, prices and investment, affecting the development of the industry.

Key Work in 2019

(1) Make excellent increments and accelerate the innovative development of new non-ferrous materials and new formats. We will expand the upstream and downstream cooperation mechanism of civil aircraft aluminium materials into the cooperation mechanism of civil aircraft materials, promote the implementation of key annual tasks, track the progress of new energy vehicle platform construction, strengthen supervision and coordination, and form annual symbolic work results. Implementing the new material “filling board”, establishing the database of non-ferrous new materials and the industry testing and evaluation center, and improving the basic system of non-ferrous new materials. At the same time, we should promote the deep integration of non-ferrous industry and the Internet, build advanced non-ferrous metal industry clusters, expand application areas, and explore new modes and new formats of industry development.

(2) Optimizing stock and improving the level of intelligent and green development of industrial chain. To formulate guidelines for the construction of intelligent mines and factories for non-ferrous metals and guide the construction of intelligent standardization in the industry. Focusing on the green manufacturing shortcomings of traditional industries such as copper, lead, zinc, tungsten and magnesium in green smelting, ultra-low emission, harmless disposal of waste residue and comprehensive utilization of resources, we should speed up the research and development and promotion of applicable technologies, guide some industrial agglomeration areas to carry out technology supply-demand docking, and guide enterprises to accelerate green development.

(3) Coordinating policies to promote the standardized development of the industry. Promote the structural reform of the supply side, continue to maintain the high-pressure situation of strictly controlling the new capacity of electrolytic aluminium, strictly implement capacity replacement, and guide the high-quality development of alumina and electrolytic aluminium industry through market-oriented and legalized ways. Strengthen policy coordination and service, coordinate and promote industry cost reduction, form a development pattern of mutual promotion between state-owned enterprises and private enterprises, consolidate Sino-Russian cooperation mechanism, improve foreign cooperation platform, guide industry to cope with trade frictions and deepen international cooperation. Revising and promulgating industry normative conditions, reforming management methods, and strengthening the guiding role of normative conditions in promoting industry technological progress and normative development. Strengthen the analysis of hot issues, stabilize market expectations, and promote the smooth operation of the industry.

With the completion of Hengli Petrochemical’s 20 million tons/year refining capacity, China’s refining capacity reached 831 million tons/year by the end of 2018. On January 16, the China Petroleum Economic and Technological Research Institute released the Report on the Development of Oil and Gas Industry at Home and Abroad in 2018 (hereinafter referred to as the “Report”), pointing out that, judging from the comprehensive scale, product quality, energy consumption and integration level, the domestic refining capacity in 2018 was at least 190 million tons per year surplus.

With the rapid growth of refining capacity, the domestic refining industry must accelerate the transformation and upgrading, and further take the road of high-quality development. At the same time, the rise of private advanced refineries and the integration and transfer of traditional local refineries will continue to affect the overall pattern of the refinery industry.

Rapid Rise of Large-scale Geotechnical Refining as the Main Force of New Capacity Increase

According to the data of the Report, in 2018, Hengli Petrochemical Company had 20 million tons/year refining capacity, and China added 33.9 million tons/year refining capacity. At the same time, according to incomplete statistics, six local refineries, such as Haike Chemical, Xinhai Petrochemical and Kokoda Petrochemical, have eliminated a total of 11.65 million tons per year of refining capacity. In total, China’s annual net oil refining capacity increased by 22.25 million tons per year, with private refineries as the main growth force.

From the data, it can be seen that the transformation and upgrading of local refineries are accelerating and showing a trend of differentiation. With the strong support of the local government, some large private enterprises listed in the top 500 of China continue to promote the construction of large-scale refining and petrochemical integration projects with bases, scale, advanced technology and “main oil and auxiliary”. In 2018, Hengli Petrochemical will build 20 million tons/year refining capacity; in 2019, Zhejiang Petrochemical (Phase I) will be built, adding 20 million tons/year refining capacity. By 2020 alone, with these two enterprises, China will add 40 million tons/year refining capacity.

The report points out that with the successive production of large-scale local private refining projects, China’s crude oil processing capacity will increase by 32 million tons per year in 2019, its total refining capacity will reach 863 million tons per year, and its excess capacity will rise to 120 million tons per year. The refining capacity of private enterprises will increase to 235 million tons per year, and the proportion of refining capacity in China will increase to 27.2% from 25.6% last year. The number of ten million tons of refineries in China will increase to 29, of which two are from private enterprises and the scale is world-class.

The data show that Shenghong Petrochemical Company has built 16 million tons/year refining capacity, Zhejiang Petrochemical Company (Phase II) 20 million tons/year refining capacity is under planning, 15 million tons/year petrochemical industry and 16 million tons/year refining capacity of Huatong Jinggang Petrochemical Company are being publicized by the sea, the latter is for introducing foreign investment projects, 20 million tons/year refining capacity of Xinhua Petrochemical Company is being publicized by environmental assessment, and Shida Science and Technology 15 million tons/year refining capacity is being publicized. Ten thousand tons/year refining capacity has entered the approval stage. These capacity may be released by 2025.

Accelerate the integration of backward production capacity and accelerate the elimination of small and medium-sized refineries

With the rise of large private refineries, some small and medium private refineries are accelerating their integration. Shandong Province is the centralized area of China’s georefining, with the production capacity exceeding 60% of the total capacity of georefining. The largest sales area of refined oil in Shandong Province is Shandong Province. Outward radiation can be transported by steam to North and Northeast China, by rail to Northwest and Southwest China, and by water to East and South China.

In recent years, the state has gradually increased its efforts to eliminate and integrate backward refining capacity. On January 9, 2018, China issued the Notice on the Special Treatment of Serious Violations and Breaches of Credit in the Oil Refining Field, which focused on the treatment of serious violations in capacity building, safety, environmental protection, energy conservation, quality, taxation and operation of petroleum products produced from crude oil and fuel oil by processing and refining. Enterprises with dishonest behavior. The circular further implements the industrial policy requirements of “Guiding Opinions of the General Office of the State Council on the Structural Adjustment of the Petrochemical Industry to Promote Transformation and Increase Benefits”, “Guiding Catalogue of Industrial Structure Adjustment (2011 edition) (Amendment)” and “Planning and Distribution Plan for the Petrochemical Industry” (Development and Reform Industry [2014] 2208), and strictly prohibits the construction of new and expanded refining units without authorization.

According to the statistics of the China Petroleum and Chemical Industry Federation, in the first half of 2018, the number of enterprises of more than 1666 sizes decreased nationwide. Among them, there are 1288 refining and chemical enterprises (123 refining and 1565 chemical enterprises).

Also at the beginning of the year, the announcement on issues related to the levy and management of refined oil consumption tax (State Administration of Taxation Announcement No. 1, 2018) blocked tax avoidance loopholes in raw materials. The VAT reform implemented in May has blocked the tax avoidance loopholes in the factory to a certain extent and further rectified the market.

Due to the intensification of renovation efforts, Shandong Geotechnical Refining has also developed differently. According to the principle of “optimization and restructuring, reduction integration, high pressure and low pressure, and integration of refining and chemical industry”, Shandong Province will transfer the reduction integration step by step for local refineries with refining capacity of 5 million tons per year or less, and the reduction and reduction refining capacity will be 1/3 by 2025. At the same time, refineries have accelerated downstream extension, from “one oil dominant” to “both oil and petrochemical” transformation.

Take a differentiated and environmentally friendly road to cope with fierce market competition

The pattern of diversified competition has been formed and will develop with the further development of China’s petrochemical industry. In the oil refining field, BP will build a new 200,000 tons/year lubricating oil blending plant in Tianjin in the third phase, and Shell will build a 10,000 tons project in Qingdao in the second phase of refining catalyst. In the field of oil sales, BP will build 1000 gas stations in China in the next five years. Shell also has plans to build large-scale additional gas stations.

For refining and chemical enterprises, under the increasingly fierce market competition, we must continue to vigorously eliminate backward production capacity, strictly control the increment, and replace backward production capacity with advanced production capacity. For the whole refining industry, we should continue to promote the construction of refinery bases, parks and regionalization. It is suggested that some fuel refineries should turn to material refineries in combination with the characteristics of crude oil and equipment, and pay attention to the development of differentiation and specialization.

It should be noted that 2018 has been described by many media as the “environmental storm” year. In the new year, the intensity of environmental renovation will not decline. Over the past year, China’s main refineries have completed the upgrading of oil quality and the replacement of oil products. Some local refineries also have the ability to produce the 6-standard refined oil by introducing advanced technology. In 2019, China will supply all kinds of gasoline and diesel oil to the country 6. Refineries should arrange reasonable dispatch and replacement of gasoline and diesel oil to achieve a smooth transition.

At the same time, the report pointed out that domestic refineries should continue to promote energy saving and emission reduction, and promote advanced energy-saving technologies, such as enhanced coke burning in catalytic cracking units, high-efficiency stripping in catalytic cracking units, and accelerate the upgrading and transformation project construction, such as focusing on sewage treatment upgrading, sulfur and yellow tail gas treatment and other special treatment projects.

According to sources, Sierra Leone Mining Holdings Limited plans to export 600,000 tons of bauxite to China in 2019.

According to the source, the annual production capacity of the company’s bauxite mine is 2.4 million tons, and in 2018 it will reach 2 million tons. Bauxite production is expected to reach 2.3 million tons this year. It is reported that the company will build two new washing plants, which are expected to be put into operation in July this year. The monthly output of bauxite is expected to increase from 160,000 tons to 200,000 tons.

At present, the company mainly exports bauxite to Romania and Canada, with no stock in hand.

The producer mainly produces 49-50% active silica and 3.5% Max bauxite. At present, the price is US$37-38 per ton offshore from Sierra Leone and the freight to China is US$20-23 per ton.

They will use ships with a cargo carrying capacity of 55,000 tons.

It has been learned that recently, the International Energy Agency (IEA) officially released World Energy Outlook 2018 (hereinafter referred to as “Outlook”) in Beijing. The report looks forward to the global energy development prospects by 2040, and gives high affirmation to the development of new energy in China.

At the Outlook conference, Laura Koch, chief energy model officer of the International Energy Agency, said: For economies that rely more on light industry, services and digital technology, electricity is increasingly becoming the preferred “fuel”. By 2040, electricity demand will increase by 90% compared with the current demand, which is nearly twice the current demand for electricity in the United States; nearly half of all cars in the world will be electric vehicles, and the proportion of electricity in the final energy consumption will increase to nearly one third.

Ms. Laura Koch also said that at present, China has become a global leader in carbon emission reduction, leading the world in the development of wind power, photovoltaic, electric vehicles and emerging low-carbon technologies, but its core still needs to explore how to further accelerate the pace of China’s low-carbon development on the basis of affordable economy and achieve the popularization and application of low-carbon technologies. At the same time, China also needs to focus on how to further enhance the flexibility of the power system in order to further achieve large-scale access to renewable energy.

Prospect points out that by 2040, 20% of the increase in global electricity demand will come from China’s motor demand. This forecast is also in line with the actual situation of electric vehicle manufacturing and market worldwide. China is already the leader of the electric vehicle industry. In the future, China’s leading edge will continue to be maintained.

Prospect shows that with the increasing competitiveness of solar photovoltaic, its installed capacity will exceed wind power by 2025, hydropower by 2030 and coal power by 2040. The proportion of renewable energy generation will increase from 25% to 40%. China’s nuclear power output will surpass that of the United States and the European Union by 2030. The promotion of global carbon emission reduction depends on China’s contribution.

While highlighting new energy sources, Prospect also analyses the future development trend of global oil and gas: car oil consumption will peak in the next five years or so; however, petrochemical, truck, aircraft and shipping industries will still make oil demand rise; by 2025, the proportion of the United States in the growth of global oil and gas production will reach more than half.

In addition, nearly a fifth of the world’s oil and a quarter of its natural gas are produced in the United States; the shale revolution will put tremendous pressure on traditional oil and gas exporters; and natural gas will surpass coal as the second largest fuel in the global energy structure. Global natural gas use will grow by 45% by 2030.

Under the trend of global energy transformation and the fourth industrial revolution, China will play an increasingly important role. Nowadays, China’s photovoltaic industry and electric vehicle industry have become national business cards, and more new energy industries are developing rapidly. China is also a firm supporter of the Paris Accord and will contribute to and set an example for the global carbon reduction.