Energy Insider: China to Plug in National Carbon Trading; Port Giants in Closer Equity Tie-Up

In today’s Caixin energy news wrap: Two of China’s largest port operators step up cooperation; Sinopec builds its first onshore wind power project; commodity price rises drive up China’s import costs; and the country’s long-awaited national carbon market debuts soon.

China pays more for imported commodities on surging prices

China paid 2,888.5 yuan ($446.50) on average for each ton of imported crude oil during the first half, 20.5% more than a year earlier, data from the General Administration of Customs showed. The average cost of imported iron ore was 1,075.8 yuan per ton, an increase of 67.3%. In response, the State Council, China’s cabinet, recently deployed comprehensive measures to stabilize market prices and take some of the pressure off smaller companies, the administration said.