Energy demand has strengthened in China. This is indicated by the rising imports of the main fuels: Coal and Crude Oil.
In Aug’16, crude oil imports had jumped to 32.85 million metric ton, the highest in four months; and, imports of coal rose to 26.6 MnT.
In addition to rising demand, shrinking domestic production of the fuels could be attributed for the surge in the imports.
Crude oil production has declined in China as the domestic producers have cut down productions to cope up with the falling global prices. Coal output also has decreased as the Chinese government is in the process of trimming production to rationalize demand and supply. During the Jan-July’16 period, coal production slowed by 10%, while, crude oil production retarded by 5.1%.
In contrast, Met coke exports have increased, mainly due to stronger demand in overseas markets, including India.
During Aug’16, 1.04 MnT of Met coke was exported from China that was higher than the exports of 0.64 MnT in Aug’15, according to data compiled by CoalMint Research. In July’16, 1.1 MnT of Met coke was shipped out of China.
Met coke exports from China during the Jan-Aug’16 period was at 6.89 MnT, surpassing the exports of 5.92 MnT during the corresponding period of the preceding year, CoalMint Research shows.
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