Coal news and updates

China October coal imports down 31% y-o-y

China’s coal imports, including lignite, thermal and metallurgical coal, fell 30.65% on year to 13.96 million tonnes in October -- the 16th consecutive year-on-year drop, and down 21.44% on month, showed data from the General Administration of Customs (GAC) on November 8.

The decrease was mainly because of buyers’ preference for domestic coals due to large coal miners’ further price cut and discounts amid weak market in October.

The value of October imports stood at $733.8 million, plunging 50.78% on year and down 24.94% on month. That translates to an average price of $52.56/t, $21.49 lower than the year prior and down $2.45/t from September.

The GAC didn’t give a breakdown of the October imports, which could be available late this month.

Over January-October, the country imported a total 170.31 million tonnes of coal, down 29.9% from a year ago, the GAC said.

Total value of imports during the same period amounted to $10.36 billion, plunging 45% year on year.

Meanwhile, China exported 520,000 tonnes of coal in October, decreasing 28.8% on month but up 6.12% on year, a sixth consecutive yearly rise.

The value of the October exports was $36.43 million, decreasing 34.7% from a year ago and down 42.8% from September. That translates to an average price of $70.06/t, falling $43.72 on year and down $17.12/t on month.

Over January-October, China exported a total 4.54 million tonnes of coal, a year-on-year decline of 6.58%, with total value falling 27.7% on year to $431 million.

source: http://en.sxcoal.com