China, the world’s largest coal importer, has registered a sharp rise by 31% in its monthly coal import during March 2016.
China imported 19.7 MnT of coal in March, up by 15.6% on a yearly basis and recorded a growth of 31% from the previous month.
China’s monthly coal import registered a significant rise by 31% in March compared to last month. China has started coal restocking also power plants have concerned on refilling owing to peak consumption period in summer.
In the first quarter of 2016, the country’s coal import reached about 48.4 MnT, reporting steep declination 1.2% compared to the same period of 2015.
As per a market analyst, “Imports from March have shown a recovery in imports amid increase in domestic prices. Also the recovery will be sustained into April and May.”
In 2015, country’s coal import fell by 30% to 204 MnT compared to 291.4 MnT in 2014, according to latest custom report of China. China’s coal import has been diving as a result of slowing domestic demand and excess capacity.
Quantity in MnT
Source: SteelMint
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