China`s June thermal coal imports slow to 4-month low
Source: www.chinamining.org Citation: Platts Date: July 23, 2015
China`s June imports of thermal coal slumped to a four-month low of 6.21 million mt, a 43% on-year drop and down 4% on the previous month, according to customs data released Wednesday.
The tally comprises bituminous and sub-bituminous coals but does not include lower calorific value material classified as lignite.
China`s thermal coal imports in the first six months of 2015 were 42.35 million mt, a 44% fall from the year-earlier period.
Trading sources have pointed to a multitude of reasons for China`s current downturn in imports including price cuts from domestic Chinese producers, more stringent regulatory scrutiny by the government, an industrial slowdown reducing power demand and increased competitiveness to coal from the hydropower sector.
China received 3.76 million mt of Australian thermal coal in June, down 28% on the year and 1% lower than May, while imports from Indonesia slumped 52% on-year to 1.76 million mt.
Thermal coal imports from Russia decreased 56% on-year to 661,790 mt, the lowest monthly intake since October 2012.
Meamwhile, China`s intake of lignite in June fell 18% on the year to 2.9 million mt, the lowest since Platts started collating lignite volumes in September 2012.
Lignite imports for the January-June period were 23.75 million mt, down 35% on the corresponding 2014 period.
First half imports from China`s top lignite supplier, Indonesia, stood at 22.15 million mt, down from 33.91 million mt a year earlier.
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