In October, the production of industrial raw coal and crude oil above designated size was stable, while the production of natural gas and electric power slowed down.
I. steady growth of raw coal production and decline of coal import growth
In October, the output of raw coal was 320 million tons, up 4.4% year-on-year, with the same growth rate as last month; the average daily output was 10.48 million tons, down 320000 tons on a month on month basis. From January to October, the output of raw coal was 3.06 billion tons, up 4.5% year on year.
In October, the coal import was 25685000 tons, up 11.3% year on year, down 9.3 percentage points from last month; from January to October, the coal import was 280 million tons, up 9.6% year on year.
Coal prices fell slightly. On November 1, the comprehensive transaction prices of 5500, 5000 and 4500 kcal coal in Qinhuangdao Port were 565, 505 and 453 yuan per ton, respectively, down 5, 4 and 3 yuan from the end of September.
II. Stable crude oil production and accelerated import
In October, the crude oil production was 16.11 million tons, basically the same as that of the same period last year; the daily average output was 520000 tons, down by 11000 tons on a month on month basis. From January to October, crude oil production reached 159250000 tons, up 1.1% year on year.
In October, crude oil imports reached 45.51 million tons, up 17.1% year-on-year, 6.3 percentage points higher than last month. From January to October, crude oil imports reached 414.545 million tons, up 10.5% year on year.
In October, the international crude oil price fell in shock. On October 31, the spot FOB price of Brent crude oil was $59.3/barrel, down $1.69 from September 30.
III. crude oil processing maintains rapid growth
In October, 57.84 million tons of crude oil were processed, up 9.2% year-on-year, 0.2 percentage points slower than last month; the average daily processing was 1.866 million tons, down 17 thousand tons on a month on month basis. From January to October, 537.1 million tons of crude oil were processed, up 6.4% year on year.
IV. natural gas production slows down and imports fall
In October, natural gas production reached 14.6 billion cubic meters, up 8.2% year-on-year, 2.4 percentage points slower than last month; the average daily production reached 470 million cubic meters, an increase of 20 million cubic meters on a month on month basis. From January to October, natural gas production reached 142.3 billion cubic meters, up 9.3% year on year.
In October, the import of natural gas reached 6.52 million tons, down 10.6% year on year. The growth rate changed from positive to negative, up 8.0% last month. From January to October, natural gas imports reached 77.71 million tons, up 7.9% year on year.
V. slight slowdown in power production
In October, the power generation was 571.4 billion kwh, a year-on-year increase of 4.0%, a slowdown of 0.7 percentage points over the previous month; the average daily power generation was 18.43 billion kwh, a decrease of 1.26 billion kwh on a month on month basis. From January to October, power generation reached 5.9 trillion kwh, up 3.1% year on year.
In terms of varieties, the growth rate of thermal power production slowed down slightly in October, the decline of hydropower expanded, nuclear power and solar power fell, and wind power turned from negative to positive. Among them, thermal power increased by 5.9% year-on-year, 0.1% slower than last month; hydropower decreased by 4.1%, 3.0% larger; nuclear power and solar power increased by 5.4% and 3.0%, 12.5% and 16.4% lower respectively; wind power increased by 10.0%, 7.9% lower last month.