According to China Energy Network, in October, raw coal production by large-scale industrial enterprises maintained a high level, while crude oil and natural gas production grew steadily. Electricity production growth accelerated significantly.

I. Raw Coal, Crude Oil, and Natural Gas Production and Related Developments

Raw coal production remained at a high level. In October, industrial enterprises above designated size produced 410 million tons of raw coal, down 2.3% year-on-year, with an average daily output of 13.12 million tons.

From January to October, industrial enterprises above designated size produced 3.97 billion tons of raw coal, up 1.5% year-on-year.

Crude oil production maintained growth. In October, crude oil production by large-scale industrial enterprises reached 18 million tons, up 1.3% year-on-year, with the growth rate slowing by 2.8 percentage points compared to September; the daily output averaged 581,000 tons.

From January to October, crude oil production by large-scale industrial enterprises totaled 180.64 million tons, up 1.7% year-on-year.

Crude oil processing maintained steady growth. In October, crude oil processing by large-scale industrial enterprises reached 63.43 million tons, up 6.4% year-on-year; averaging 2.046 million tons per day.

From January to October, crude oil processing by large-scale industrial enterprises totaled 614.24 million tons, up 4.0% year-on-year.

Natural gas production growth slowed. In October, natural gas output by large-scale industrial enterprises reached 22.1 billion cubic meters, up 5.9% year-on-year, with the growth rate slowing by 3.5 percentage points compared to September; daily output averaged 710 million cubic meters.

From January to October, natural gas production by industrial enterprises above designated size reached 217 billion cubic meters, up 6.3% year-on-year.

II. Electricity Production

Electricity production growth accelerated among industrial enterprises above designated size. In October, electricity generation reached 800.2 billion kilowatt-hours, up 7.9% year-on-year, accelerating by 6.4 percentage points compared to September; daily average generation was 25.81 billion kilowatt-hours. From January to October, industrial electricity generation by enterprises above designated size reached 8,062.5 billion kWh, up 2.3% year-on-year.

By type, in October, thermal power generation by enterprises above designated size turned from decline to growth, while hydropower and solar power generation growth slowed, nuclear power growth accelerated, and wind power decline widened. Specifically: Industrial-scale hydropower generation grew by 28.2%, a deceleration of 3.7 percentage points compared to September; Industrial-scale nuclear power generation increased by 4.2%, an acceleration of 2.6 percentage points compared to September; Industrial-scale wind power generation declined by 11.9%, a widening of 4.3 percentage points compared to September; Industrial-scale solar power generation grew by 5.9%, a deceleration of 15.2 percentage points compared to September.

As an integrated internet platform providing benchmark prices, on November 14, the benchmark price of liquefied natural gas from SunSirs was 4206.00 RMB/ton, a decrease of 3.27% compared with the beginning of the month (4348.00 RMB /ton).

Application of SunSirs Benchmark Pricing：

Traders can price spot and contract transactions based on the pricing principle of agreed markup and pricing formula (Transaction price=SunSirs price + Markup).

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.

https://graph.100ppi.com/?w=550&h=332&c=p&id=524&btime=2025-08-01&etime=2025-11-10&state=english

SunSirs: Rising Costs Drive Magnesium Market to Stabilize Early Then Gain Later

According to China Nonferrous Metals News, during the first week of November, driven by rising coal prices, the magnesium market stabilized early and gained later. In the first half of the week, the magnesium market stabilized at low levels; In the latter half, as coal prices climbed, factories showed stronger willingness to restore profits and slightly raised quotes to test the market. Driven by the “buy on the rise, not on the dip” procurement mentality, some trading firms and downstream users made small follow-up purchases, propelling the magnesium market to stabilize and rebound. However, demand remains weak overall. Users without current orders remain cautious in following suit, resulting in limited high-end transactions and insufficient demand support.

As of November 7, the mainstream ex-factory cash quotation (tax-inclusive) for 99.9% magnesium ingots in Fugu region stood at CNY 16,400–16,500/ton, with mainstream transaction prices at CNY 16,400/ton. Some slightly lower-priced supplies were also available. This represents an increase of approximately CNY 300/ton compared to the previous Friday, with other regions following suit in adjustments.

It is understood that some trading companies and downstream users stockpiled moderate quantities when Fugu's common magnesium price was at ¥16,100/ton. As magnesium prices continued to rise in the latter half of last week, downstream purchasing enthusiasm remained low, with most adopting a wait-and-see approach.

On November 7, magnesium export demand had already been released in advance during September, resulting in limited new export orders for November. Market trading activity remained subdued, with downstream buyers generally adopting a cautious approach.

From a supply-demand perspective, with no significant improvement in magnesium demand currently and low acceptance of high prices among downstream users, pressure for the magnesium market to remain at elevated levels is expected to persist in the short term. Considering the recent notable increase in coal prices and rising production costs for factories, further declines in the magnesium market are unlikely given cost support.

Overall, the magnesium market is expected to remain weak but stable this week, with demand follow-through requiring further observation.

As an integrated internet platform providing benchmark prices, o n November 14, the benchmark price of liquefied natural gas from SunSirs was 4206.00 RMB/ton, a decrease of 3.27% compared with the beginning of the month (4348.00 RMB /ton).

Application of SunSirs Benchmark Pricing：

Traders can price spot and contract transactions based on the pricing principle of agreed markup and pricing formula (Transaction price=SunSirs price + Markup).

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.