JINGKUO METAL

The World Energy Sector in Transition: Slowing Growth, Rising Renewables

Thu, 06 Aug 2026 11:57:17 +0800

The global energy sector is undergoing a profound transformation, characterized by slowing demand growth, the accelerating rise of renewable energy, and the emergence of electricity as the dominant energy carrier. According to the International Energy Agency's (IEA) Global Energy Review 2026, all major energy fuels and technologies grew in 2025—but at very different rates.

Global energy demand growth slowed to 1.3% in 2025, just below the average for the previous decade. This represents a notable slowdown from 2024, when demand increased by 2%. The IEA attributes this slowdown to slower economic growth, slower growth in energy-intensive industries in some regions, lower cooling demand, and faster efficiency improvements.

Perhaps the most significant development is the emergence of solar PV as the largest single source of global energy demand growth, meeting more than 25% of higher demand in 2025—the first time on record that a modern renewable source has contributed the largest share of global energy demand growth. Low-emissions sources combined—solar, wind, nuclear, hydropower, and other renewables—contributed nearly 60% of the growth in global demand.

The IEA's World Energy Outlook 2025 declares photovoltaics "the most economical technology in the history of energy" in terms of competitiveness, installation speed, and widespread access, projecting a doubling of capacity over the next five years. The IEA's Renewables 2025 report sees global renewable power capacity increasing by 4,600 gigawatts (GW) by 2030—roughly the equivalent of adding China, the European Union, and Japan's total power generation capacity combined. Clean-energy use is projected to surge dramatically, with nuclear power rising 39% by 2035, solar by 344%, and wind by 178%. The IEA links this expansion to sharp cost reductions since 2010, with prices for solar, wind, and battery technologies falling by between 70% and 90%.

Electricity demand growth is accelerating. The IEA reaffirms that "the world has entered the Age of Electricity," with electricity demand growing at well over twice the rate of energy demand. Growth of nearly 3% in electricity demand remained above the average of 2.8% over the last decade. Global electricity demand is projected to increase by 4.5% in 2025 over 2024 and is expected to grow at least 2.8% per year through 2030.

The drivers of electricity demand growth are diverse. In the United States, data centres made up half of all growth in electricity use. Investment in data centres is expected to reach $80 billion in 2025, with a tripling of electricity consumption by data centres by 2035—85% concentrated in the US, China, and Europe.

Oil demand growth continued to slow in 2025, increasing by 0.65 million barrels per day (0.7%), down from 2024's already muted 0.75 mb/d of growth. Electric car sales continued their rapid growth, climbing over 20% to more than 20 million units—approximately one quarter of new car sales in 2025. Gas demand growth slowed markedly in 2025, rising by around 1%, down from 2.8% in 2024.

The IEA projects that global energy investment will reach $3.4 trillion in 2026, a slight increase year-on-year. Around $2.2 trillion is expected to go to grids, storage, low-emissions fuels, nuclear, renewables, efficiency, and electrification, while approximately $1.2 trillion is set to be invested in oil, natural gas, and coal.

The China Surtax Remission Order (2024) represents a significant policy development for the stainless steel and aluminum sectors, offering Canadian importers relief from the 25% surtax. The Order, effective January 31, 2025, allows for the relief of surtaxes paid or payable under the China Surtax Order (2024), in respect of eligible goods referred to in Schedule 1 or 2. For the stainless steel industry, which is closely tied to energy infrastructure development, this relief provides an important opportunity to maintain cost-competitive supply chains.

However, the IEA also sounds a note of caution. The latest World Energy Outlook 2025 marks "a worrying turning point in the global energy debate" as the global energy transition shows signs of slowing, raising climate and financial risks for fuel-importing countries. Global growth in energy-related carbon dioxide (CO2) emissions slowed further in 2025, rising by around 0.4%. While this represents progress, the pace of decarbonization remains insufficient to meet international climate goals.

Sources :

IEA, "Global Energy Review 2026 – Key Findings"

IEA, "Renewables 2025 – Executive Summary"

Atradius Dutch State Business, "Energy Outlook fuel-reliant nations: Green now or grieve later"

IEA, "World Energy Investment 2026"

EIBI, "IEA says world on track for fossil fuel peak as renewables surge"

Canada's West Coast Pipeline: A New Energy Corridor to Asian Markets

Thu, 06 Aug 2026 11:56:49 +0800

Canada is advancing an ambitious plan to construct a new oil pipeline from Alberta to the British Columbia coast, a project that promises to transform the country's energy export capacity and reduce its reliance on the United States as the sole market for its oil production. The pipeline represents a landmark collaboration between the federal government, the province of Alberta, and private industry partners.

On November 27, 2025, the Government of Canada and the Province of Alberta signed a Memorandum of Understanding (MOU) to unlock the full potential of Alberta's energy resources. The landmark MOU declared the proposed oil pipeline to Asian markets as a potential project of national interest. This was followed by an Implementation Agreement announced on May 15, 2026, which gave industry the certainty needed to invest in the project.

The proposed pipeline would transport approximately one million barrels of oil per day from Bruderheim, Alberta—approximately 50 kilometers northeast of Edmonton—to a deepwater port near Delta, British Columbia, just south of Vancouver. The approximately 1,250-kilometer pipeline would enable Alberta's oilsands crude to be exported to growing Asian markets. The project is being advanced against the backdrop of a shared federal-provincial ambition to establish Canada as a global energy superpower.

An ownership group comprised of Trans Mountain Corporation (TMC), Alberta Petroleum Marketing Commission (APMC), and Pembina Pipeline Corporation will form and lead a new jointly owned company. Pembina's economic interest through construction will be 10%, with the opportunity for an additional 10% once the project enters commercial operation, while TMC and APMC will own equal shares of the balance. There will also be a real and meaningful opportunity for Indigenous equity participation.

The project's significance extends beyond mere oil transportation. According to the Government of Canada, the pipeline initiative is part of a broader strategy to "diversify global markets for Canada's energy products," "reduce emissions through the construction of a world-leading carbon capture utilisation and storage project," and "generate significant economic opportunity for Indigenous Peoples".

The economic case for the pipeline is compelling. A report from the public policy think tank MEI found that the average price-gap between light U.S. and heavy Alberta crude blends narrowed by 37.5% between the 18-month lead-up to the Trans Mountain pipeline expansion's completion in 2024 and the 18 months that followed, resulting in a US$16.7-billion boost to industry revenues. Before the Trans Mountain expansion started, non-U.S. Canadian oil exports made up only three percent of the total, but that proportion grew to 14% in the fourth quarter of 2025.

MEI senior policy analyst Gabriel Giguère noted: "The reduction in the spread means that it is becoming possible to approach the full value of our resources, which helps Canadian firms, but also increases government revenues". Giguère added: "The global demand for Canadian energy is very real, and new infrastructure has already demonstrated its benefits. It is urgent that governments remove the regulatory obstacles that obstruct the construction of new energy infrastructure".

Clean Prosperity, a climate policy non-profit, also endorsed the project's potential. Benjamin Dachis, Clean Prosperity's vice-president of research and outreach, stated: "Clean Prosperity's modelling shows that the federal-Alberta grand bargain is not just a climate breakthrough, but can also deliver a massive economic tailwind".

The project timeline is ambitious. Alberta's formal submission to the Major Projects Office occurred on July 2, 2026. The Major Projects Office is targeting a decision on national-interest listing by October 1, 2026. Alberta's plan proposes two options for pipeline routes from Hope, B.C., to Roberts Bank, with the final route to be determined based on community consultations.

For Canadian businesses and industries, the pipeline represents a major opportunity. The project will require substantial quantities of steel, including stainless steel products for pipeline components, pumping stations, and related infrastructure. The construction and operation of the pipeline will create demand for high-quality steel products—an opportunity that Canadian and international suppliers alike will seek to capture.

Sources :

Government of Canada, "Strengthening our sovereignty, diversifying our exports, reducing emissions, and building a stronger economy"

Global News, "Price surge from Trans Mountain expansion highlights need for new pipelines: MEI"

OilPrice.com, "Canada Eyes Two New Oil Pipelines"

CBC News, "Here's what to know about Canada's landmark energy agreement with Alberta"

Canada's China Surtax Remission Order (2024): Relief for Importers

Thu, 06 Aug 2026 11:56:21 +0800

On October 22, 2024, the Government of Canada imposed a 25% surtax on imports of steel and aluminum products from China, following the earlier implementation of a 100% surtax on Chinese-made electric vehicles on October 1, 2024. Recognizing the significant impact these measures would have on Canadian businesses that rely on Chinese steel and aluminum inputs, the government simultaneously established a mechanism for relief—the China Surtax Remission Order (2024).

The Remission Order, which became effective on January 31, 2025, allows for the relief of surtaxes paid or payable under the China Surtax Order (2024) in respect of eligible goods. The administration of the remission order is the responsibility of the Canada Border Services Agency (CBSA).

Under the Order, remission is granted for eligible goods listed in Schedule 1 or Schedule 2, subject to specific conditions. For goods listed in Schedule 1, remission applies to goods imported into Canada during the period beginning on October 22, 2024, and ending on December 31, 2026 . Importers must ensure that the goods are not subject to any order or finding under the Special Import Measures Act at the time of importation.

To claim remission, importers must submit a claim to the Minister of Public Safety and Emergency Preparedness within two years after the date of importation. The claim must include all relevant documentation—such as bills of lading, sales invoices, waybills, and sales contracts—that demonstrate that the imported goods match the description of eligible goods. For commercial goods, importers can obtain relief at the time of import by entering the relevant special authorization code in the Special Authority OIC field on the Commercial Accounting Declaration. Special authorization code 25-054A applies to goods listed in Schedule 1, while code 25-054B applies to goods in Schedule 2 imported between October 22, 2024, and December 31, 2025.

The types of eligible stainless steel products covered by the Order are extensive. They include stainless steel sheets and plates of specification ASTM A240, stainless steel wires of alloy 304L, stainless steel rebar, and various other steel and aluminum products conforming to ASTM A240, A276, and A519 specifications.

Importantly, the remission is subject to the condition that the goods are not subsequently exported to the United States in the same condition in which they were imported. This provision ensures that the relief benefits Canadian domestic consumption and manufacturing rather than facilitating re-export to the U.S. market.

The China Surtax Remission Order (2024) has been described as providing "much needed relief to importers affected by the surtaxes". As noted by the CBSA in Customs Notice 25-05, "Applications for remission are still being accepted and should be submitted as soon as possible". The Order has been updated multiple times since its initial publication, with the most recent update occurring in March 2026.

For Canadian businesses that import Chinese stainless steel and aluminum products, the Remission Order represents a critical opportunity to mitigate the impact of the 25% surtax. By understanding the eligibility requirements and application procedures, importers can secure significant cost savings while maintaining access to Chinese supply chains.

Sources :

Canada Gazette, Part II, Volume 159, Number 8: "Order Amending the China Surtax Remission Order (2024)"

CBSA Customs Notice 25-05: "China Surtax Remission Order"

Canada Gazette, Part II, Volume 159, Number 4: "China Surtax Remission Order (2024): SOR/2025-12"

Government of Canada, "Tariff relief for Canadian importers importing goods from China"

The Expansion of China's Stainless Steel Industry: A Decade of Unprecedented Expansion

Thu, 06 Aug 2026 11:55:32 +0800

China's stainless steel industry has experienced remarkable growth over the past decade, cementing the country's position as the world's dominant producer and consumer of stainless steel. According to data from the China Stainless Steel Branch of the China Iron and Steel Association, China's stainless steel crude steel production reached 40.868 million tons in 2025, representing a year-on-year increase of 3.6%. This growth trajectory has been consistent throughout the 14th Five-Year Plan period (2021-2025), with the industry achieving significant milestones in both scale and structural optimization.

The numbers tell a compelling story of expansion. In 2020, China's stainless steel production stood at 31.039 million tons. By 2023, following the end of the COVID-19 pandemic, production surged to 36.676 million tons—a remarkable 12.59% year-on-year growth—and China's share of global stainless steel production rose to 62.54%. Projections for 2025 indicate that crude steel production will reach approximately 41 million tons, further increasing China's global dominance.

Perhaps most significant is the dramatic increase in production capacity. By the end of 2025, China's stainless steel smelting capacity exceeded 50 million tons. Major industry groups have emerged, including Baowu Taigang and Tsingshan Group, which have come to represent the pinnacle of China's stainless steel manufacturing capability. Industry concentration has intensified considerably: between 2020 and 2024, the proportion of crude steel output from the top three stainless steel enterprises rose from 50.94% to 67.30%, demonstrating a clear strengthening of the industry's agglomeration effect.

Structural optimization has accompanied this capacity expansion. The proportion of 300-series stainless steel increased from 47.99% in 2020 to 51.45% in 2024, while 200-series stainless steel declined from 32.11% to 29.32%. Molybdenum-containing stainless steel production grew from 1.1794 million tons in 2020 to 2.2044 million tons in 2024, with projections of reaching 2.5 million tons in 2025.

The industry has also embraced green transformation. In 2025, new standards for energy consumption and carbon emissions in stainless steel production were officially implemented. Taigang, through its "scrap electric furnace short process + rooftop BIPV green power" model, achieved a carbon footprint reduction of over 75% for its 304L medium plate products, successfully meeting EU Carbon Border Adjustment Mechanism requirements and entering the European market. Zheshi Group's Dongfang Special Steel is actively constructing what is expected to become the world's first full green electricity zero-carbon stainless steel smart factory.

Looking ahead, the industry faces both opportunities and challenges. As Su Buxin, an industry expert, noted in a keynote speech on "Value Reconstruction: The Path Exploration of Chinese Stainless Steel Enterprises from 'Cost Competition' to 'Model Innovation'," China's stainless steel industry has formed a complete industrial chain system. However, with capacity utilization rates at approximately 75% and over 5 million tons of capacity still under construction or planned, the industry must guard against blind expansion while pursuing innovation-driven growth.

Sources :

Sina Finance, "Review of Achievements in China's Stainless Steel Industry During the 14th Five-Year Plan Period"

China Iron and Steel Association Stainless Steel Branch, "2025 January-September China Stainless Steel Production, Import/Export, and Apparent Consumption Data"

Sumec Metal, "In-depth Analysis of the Global Stainless Steel Industry in 2025"

Mysteel, "Su Buxin: Value Reconstruction"

The Expansion of the Stainless Steel Industry in Southeast Asia

Thu, 06 Aug 2026 11:54:43 +0800

Southeast Asia: The New Frontier of Stainless Steel Production

Southeast Asia is rapidly emerging as a major global hub for stainless steel production, driven by strategic investments from both Chinese and South Korean industry giants, abundant local resources, and growing regional demand. The region's transformation is reshaping the global stainless steel supply chain and creating new opportunities for trade and industrial development.

Indonesia has emerged as the epicenter of this expansion, leveraging its position as the world's largest holder of nickel reserves—a critical ingredient in stainless steel production. In a landmark development, South Korea's POSCO, the world's seventh-largest steelmaker, and China's Tsingshan Holding Group, the world's largest stainless steel producer with an annual output of 15.39 million tons, have signed an agreement to build a 2-million-ton-per-year stainless steel plant in the Morowali Industrial Park on Sulawesi Island. Under the agreement, POSCO will acquire a 44.12% stake in PT Xinheng Metal Indonesia, with Tsingshan retaining the remaining 55.88%. POSCO's investment is expected to exceed 1 trillion Korean won ($708.3 million).

This initiative follows POSCO's sale of its 1.1-million-ton stainless steel plant in China to Tsingshan in July 2025, signaling a strategic shift in production focus from oversupplied China to one of the world's fastest-growing markets . As industry officials noted, "The combination of fast-rising demand and abundant supply makes Indonesia a natural choice for POSCO's global expansion".

The strategic logic behind this shift is compelling. Indonesia's relocation of its capital to Nusantara and its rapid infrastructure buildout are driving demand for stainless steel in building exteriors, industrial piping, and factories. The global stainless steel market is projected to grow 72% to $318.9 billion by 2032 from 2024, according to Cognitive Market Research.

China's Yongjin Technology Group has also made significant moves in the region. In July 2025, the company held a groundbreaking ceremony for its 260,000-ton-per-year precision stainless steel strip project (Phase I) in Thailand's WHA Industrial Estate in Chonburi Province. Yongjin Group Chairman Yu Chenjie stated at the ceremony that "the Thailand project is an important initiative for the group to respond to global stainless steel market demand and promote industrial upgrading".

Thailand's stainless steel market is projected to maintain stable growth between 2025 and 2029, with a growth rate of 2.57% in 2025 potentially rising to 14.14% by 2029. The Thai government's "Eastern Economic Corridor" (EEC) initiative, which offers tax incentives and infrastructure upgrades to attract foreign investment, has created substantial growth opportunities for the stainless steel industry.

Malaysia has also re-entered the global stainless steel space. In December 2024, Worldwide Stainless Sdn Bhd revitalized Malaysia's stainless steel industry with its US$95 million (RM424.4 million) acquisition of Bahru Stainless Sdn Bhd, making it the nation's sole producer of cold-rolled stainless steel. As noted by industry observers, "the stainless steel industry in Malaysia is poised for growth".

According to SMM statistics, Indonesian stainless steel exports surged to 3.43 million tons in the first three quarters of 2025, with shipments to Southeast Asian neighbors jumping by 17.21%. This growth reflects what analysts describe as the region's entry into a phase of "defensive realism" in the stainless steel market.

Chinese exports to Southeast Asia have also grown dramatically. In 2024, China's stainless steel exports to Southeast Asia reached approximately 1.2186 million tons, an increase of 468,200 tons year-on-year, representing growth of 62.4%. This surge reflects the region's economic recovery, expanding construction and infrastructure projects, and the relocation of processing facilities to Southeast Asia.

The development of Southeast Asia's stainless steel industry represents a fundamental realignment of global production capacity. With China's domestic capacity exceeding 50 million tons and Indonesia emerging as a major production base, the "China-Indonesia" dual-polar supply pattern is becoming increasingly entrenched. From 2019 to 2025, the average growth rate of total stainless steel production in China and Indonesia was 7%, while production in other countries is projected to decline by 7% compared to 2019 levels.

Sources :

KED Global, "POSCO, Tsingshan join forces to turn Indonesia into stainless hub"

GMK Center, "POSCO and Tsingshan invest in stainless steel plant construction in Indonesia"

CNFEOL, "Yongjin Technology Thailand Production Base Officially Starts Construction"

Shandong Jingkuo Industry and Trade Co., Ltd.: A New Force in China's Commercial Landscape

Thu, 06 Aug 2026 11:51:35 +0800

Shandong Jingkuo Industry and Trade Co., Ltd. (山东京阔工贸有限公司) was established on June 10, 2019, in Shandong Province, China, with a registered capital of 3 million RMB. The company operates as a limited liability enterprise under natural person investment or control, with a registered status of "in operation" (in business). Its business scope encompasses a diverse range of commercial activities, including printing and recorded media reproduction, multimedia design, construction engineering, municipal engineering, road and bridge engineering, greening engineering, and the procurement and sale of decorative materials. Additionally, the company is engaged in the trading of aluminum alloys, aluminum ingots, and aluminum rods, as well as domestic road freight transport agency services.

The company operates under the unified social credit code 91371621MA3PYEPX85 and maintains a small but dedicated team. While the company's primary focus has been on diversified commercial activities, its establishment in 2019 came at a pivotal moment for China's broader industrial economy. The year 2019 marked a period of significant transition for Chinese manufacturing and trade sectors, as the country was preparing for the challenges and opportunities that would define the subsequent decade.

The strategic positioning of Shandong Jingkuo Industry and Trade Co., Ltd. within China's eastern coastal province is significant. Shandong Province is one of China's most economically dynamic regions, serving as a major hub for manufacturing, logistics, and international trade. The company's diversified business model—spanning construction materials, aluminum products, and logistics services—positions it to capitalize on the region's robust industrial infrastructure and its proximity to major ports.

As China's economy continues to evolve toward higher-value manufacturing and services, companies like Shandong Jingkuo Industry and Trade Co., Ltd. represent the new generation of Chinese commercial enterprises that combine traditional trade expertise with diversified service offerings. The company's ability to operate across multiple sectors—from construction to materials trading to logistics—demonstrates the adaptability and entrepreneurial spirit that has characterized China's private sector growth in recent years.

Sources:

Qichacha Enterprise Information, "Shandong Jingkuo Industry and Trade Co., Ltd."

Tianyancha Enterprise Information

JINGKUO METAL Attends International Steel Expo 2026

Sat, 01 Aug 2026 09:40:32 +0800

Our team will exhibit at the International Steel Expo 2026, presenting our full range of stainless steel products including plates, pipes, bars and section steel.

Visit our booth to discuss your project requirements and explore cooperation opportunities. We look forward to meeting you.

New Stainless Steel Pipe Production Line Launched

Sat, 01 Aug 2026 09:40:32 +0800

We are pleased to announce the launch of our new production line for seamless stainless steel pipes. The new line covers sizes from 6mm to 630mm in outer diameter, with wall thickness up to 30mm.

Grades available include 304, 304L, 316, 316L, 321 and 310S, all supplied with mill test certificates.

Welcome to send your inquiry for detailed specifications and competitive pricing.

Stainless Steel Market Update: Q3 2026 Outlook

Sat, 01 Aug 2026 09:40:32 +0800

The stainless steel market continues to show resilience in 2026. Demand for 304 and 316 grades remains strong across the chemical, energy and construction sectors, supported by infrastructure investment and industrial upgrading.

Our factory in Zibo, Shandong Province, has expanded production capacity for stainless steel plates and pipes, ensuring stable supply and shorter lead times for overseas customers.

For pricing and availability, please contact our sales team at hanlei1098@126.com.