China's thermal coal imports in June fell by 24% on the month to 9.75 MnT, the country's lowest monthly intake since February when imports were severely impacted by the Lunar New Year holiday, according to China customs data.
Falling domestic Chinese thermal coal prices have been applying pressure to the imported coal market, with the CFR South China 15-60 day forward price basis 5,500 kcal/kg NAR at $76.80/mt, just above its lower record since the assessment started in March.
Indonesian sub-bituminous coal landing in China dropped to 1.74 MnT in June, 50% lower year-on-year.
The future of sub-bituminous coal imports to China — most of which originates from Indonesia — remains uncertain, due to a Chinese National Energy Administration draft regulation proposing the banning of lower CV grades.
Source
Leave a Reply