China's coal import in June rebounded slightly after reaching their lowest levels this year in the preceding month, with companies raising imports ahead of an expected rise in demand in the summer.
China
's
coal import in June rebounded slightly after reaching their lowest levels this
year in the preceding month, with companies raising imports ahead of an
expected rise in demand in the summer.
China
imported 12.11 million metric tons of coal in June, up 10% on month, according
to data issued Wednesday by the General Administration of Customs.
The figure was 21% lower than a year earlier due to a high comparitive basis
figure last year when
China
's
economy was in a steeper recovery.
The customs administration confirmed that coal exports in June were 1.27
million tons, implying net coal imports of 10.84 million tons for the month.
The National Energy Administration said this week that
China
's
coal demand is likely to weaken in the second half and the its coal imports may
rise at a slower pace.
The NEA said domestic power consumption is expected to rise 11% this year,
compared with 21.57% in the January-June period, as on-year growth in
electricity use in the second half will likely ease.
China
imported 81.09 million tons of coal in the first six months of the year, up
70.6% from a year earlier, the customs administration said, although the
on-year rise slowed each month between January and May.
High international coal prices are also curbing
China
's
appetite for coal imports.
Australian coal at the
port
of
Newcastle
, a
regional benchmark, was assessed Friday at $96.34 a ton by globalCOAL, down
0.7% from the previous week.
In comparison, Datong Quality Mix coal with a calorific value of 5800
kilocalories a kilogram was unchanged from a week earlier at CNY780-CNY790
($115.0-$116.5) a ton, while Shanxi Quality Mix coal with a calorific value of
5500 kilocalories/kg was also unchanged at CNY750-CNY760/ton ($110.6-$112.1) Monday,
according to the China Coal Transportation and Distribution Association.
After adding freight and tax, the import cost for Australian coal is higher
than for domestic coal, while coal from
Indonesia
and
Vietnam
is
much cheaper than
Australia
coal,
analysts said.
Indonesia
has
become the number one coal supplier to
China
, with
Australia
left
behind in second place.
China
imported 3.71 million tons of coal from
Indonesia
in
June, up 38.24% on year, and 1.77 million tons from
Australia
, down
73.89% on year, the data showed.
China
's
coke imports in June also rose 97% on year to 26,616 tons, it showed.
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