According to the data released by General Administration of Customs, Chinese thermal coal imports (including bituminous and sub-bituminous coal, excluding lignite) has increased 26% Y-o-Y to 10.22 MnT in Sep’17. Imports were also up 3% M-o-M compared with 9.89 MnT thermal coal in Aug’17.
The high level of imports came as a result of restocking demand from power utilities ahead of the winter season.
Moreover, increased safety and environmental inspections across the country had limited coal production from the mines. Thermal coal prices had soared to a record of Yuan 658.6/MT (USD 99.30/MT) last month, which had encouraged traders and utilities to find cheaper alternatives from foreign miners.
The value of the imports stood at USD 746.584 million in Sep’17, translating to an averaged import price of USD 73.05/MT, up USD 4.39/MT from the month prior and up USD 15.73/MT on year.
Total thermal coal imports during the first 9 months of CY17(Jan’17-Sep’17) stood 81.44 MnT, increasing 18.68% Y-o-Y comparable with the imports during the same period in CY16.However,Total estimated value of imports decreased by 54.34% from the preceding year to USD 1218.243 million.
Lignite imports increased 12.37% Y-o-Y to 9.72 MnT in Sep’17. Imports were also 35.56% higher on the month compared with 7.17 MnT in Aug’17.
Total lignite imports reached 59.37 MnT during Jan’17-Sep’17, growing 21.88% Y-o-Y. Estimated value went up 47.97% on year to USD 2874.771 million.
Total Coal Imports in Sep’17:
China imported 27.08 MnT of coal and lignite in Sep’17, increasing 10.8% Y-o-Y. The figure went up by 1.81 million tons or 7.16% M-o-M. During Jan’17-Sep’17, Chinese coal imports totaled at 204.85 MnT, up 13.7% Y-o-Y.
In Sep’17, imports of coal and lignite amounted to USD 2078.874 million, increasing 68.84% Y-o-Y.
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