The hottest traditional overcapacity new coal chem

2022-10-01
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Traditional overcapacity new coal chemical industry faces the risk of overheating investment

in fact, coal has now become a scarce resource. Using a few tons of coal to produce a ton of coal chemical products is a great waste of resources

in 2003, under the order of the municipal government, Yulin, a city in Northern Shaanxi, began to build a coal chemical industry chain. Nine years later, it has become a typical example of overcapacity in the coal chemical industry

Shaanxi Shenmu Chemical Industry Co., Ltd. (hereinafter referred to as "Shenmu chemical") is a large-scale coal chemical enterprise in Yulin, with an annual output of 600000 tons of coal to methanol. In 2011, it was merged by Shenhua Group and became its subordinate enterprise

Shenmu chemical's internal staff told that although the company's annual production capacity has been maintained at 600000 tons in recent years, the price of methanol has fallen continuously, from more than 4000 yuan/ton three years ago to more than 2100 yuan/ton

"there are too many enterprises producing methanol, but the downstream demand has not changed much." The staff member said that there are continuous competition from enterprises in Inner Mongolia, Ningxia, Shanxi and other places in China, and import shocks from Thailand, Indonesia, Saudi Arabia, Iran and other countries abroad - due to the use of natural gas to produce methanol, their total cost is only the raw material cost of domestic coal chemical enterprises, and their methanol sales price is close to 1000 yuan/ton

the impulse to expand has not stopped

this is the problem faced by all traditional coal chemical enterprises at present

in the first three quarters of 2011, the operating rate of methanol plants in China was only about 50%, only 10 percentage points higher than that in 2009. In the first quarter of this year, the cumulative growth rate of methanol production reached 17.5%, 2.3 percentage points higher than the growth rate of apparent consumption

in fact, as early as three years ago, coal chemical industry was included in the list of repeated construction and overcapacity by the government. In 2009, the national development and Reform Commission and other departments jointly issued the notice on Several Opinions on curbing overcapacity and redundant construction in some industries and guiding the healthy development of the industry (GF [2009] No. 38, hereinafter referred to as "document 38"). It is pointed out that in the next three years, the approval of coke and calcium carbide projects that simply expand production capacity will be stopped, new pilot projects of modern coal chemical industry will not be arranged in principle, and synthetic ammonia and methanol will be greatly suppressed Capacity replacement, etc

the introduction of restrictive measures has indeed compressed a batch of excess capacity to a certain extent. After 2009, small enterprises with an annual output of less than 200000 tons of methanol in Yulin were directly eliminated

however, at the beginning of this year, the China Petroleum and Chemical Industry Federation issued the "2011 report on the economic operation of China's petroleum and chemical industry and efforts to promote the implementation of major projects", which pointed out: "in 2011, the operating rate of methanol, calcium carbide, PVC, urea and other industries is still low, and the expansion of methanol, calcium carbide, urea and other production capacity has not stopped."

on the one hand, the overcapacity of traditional coal chemical products is still serious. On the other hand, new coal chemical products such as "coal to gas, coal to olefins, coal to oil and coal to alcohol ether" with high added value and technical requirements are facing the risk of overheating investment while the supply exceeds the demand

overheated investment in new coal chemical industry

Zhang Shaoqiang, vice president of China coal processing and Utilization Association, told that methanol production is simple and capacity growth is fast, and methanol, as one of the most important raw materials of basic chemical products, is more prone to overcapacity. At the same time, many coal chemical enterprises have launched new coal chemical industry with high added value under the condition of immature technology, but in this process, the lack of technology has led to the surplus of intermediate product methanol

Shaanxi Yulin Natural Gas Chemical Co., Ltd. (renamed as Huadian Yulin Natural Gas Chemical Co., Ltd. after being acquired by Huadian Coal Industry Group Co., Ltd., a subsidiary of China Huadian Group) (hereinafter referred to as "Yulin Tianhua") approved the 1.4 million ton coal to methanol project in 2007, and also supported the 1.2 million ton methanol to dimethyl ether project. Now the methanol project is about to be put into operation, but the later dimethyl ether project has not been started. The company's internal staff once explained to the media that the market acceptance was not taken into account when the project was approved. Later, it was found that the performance of dimethyl ether products burned in liquefied gas was unstable and the product acceptance was limited. At present, the project has been abandoned

At the same time, more and more coal chemical enterprises, even coal and coal power enterprises, began to set foot in the field of new coal chemical industry. In Northern Shaanxi, Yulin has laid out a coal chemical industry chain with a total investment of more than 300billion yuan, and there are new coal chemical projects of large state-owned enterprises such as Shenhua, Yankuang, Huadian, Shaanxi coal, Datang, and China coal. The staff of Shenmu chemical revealed that the company will launch the project of preparing 2ph (polypropylene heptanol) from methanol next year

Li Ye, director of the Department of energy conservation and scientific and technological equipment of the national energy administration, said publicly a few days ago that the national development and Reform Commission has received 104 coal chemical projects reported by various regions. If all of them start construction during the 12th Five Year Plan period, the investment scale will be as high as 2trillion yuan. Less than 2030, industry insiders believe that the new coal chemical industry is about to blowout

an employee of Longmei group said that the development of coal chemical industry in the enterprise is a bit like "running a horse to encircle the land". "We have to consider the long term, take up the project first, and develop it after the technology, capital and other conditions are mature."

Lin Boqiang, director of the China energy economy research center of Xiamen University, believes that the development of coal chemical industry by enterprises is fundamentally supported and "condoned" by local governments - local governments use coal to drive GDP, and feel that the more they swim down, the more money they make. "But in fact, coal chemical industry does not make money. In fact, coal has now become a scarce resource. Using a few tons of coal to produce a ton of coal chemical products is a great waste of resources."

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