🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

UPDATE 1-China June coal imports from Mongolia, Russia rise - customs

Published 24/07/2017, 05:26 pm
UPDATE 1-China June coal imports from Mongolia, Russia rise - customs

(Adding details and background)

BEIJING, July 24 (Reuters) - China's coal imports from Mongolia and Russia rose in June as utilities and steel mills sought out less expensive raw materials even as the government tried to curb purchases of foreign fuel.

Coal-fired power demand rose last month during a prolonged heat wave in northern China at the start of the peak consumption period.

Since mid-February the two nations have helped fill a supply gap caused by China's ban on coal from North Korea. In the first half of the year, imports from Mongolia were up 79.5 percent from last year's 10.4 million tonnes, data from the General Administration of Customs showed on Monday.

The data came after figures earlier this month showed total imports of coal fell year-on-year for the first time since August 2016. TRADE/CN

Beijing asked utilities in May to reduce their purchases of overseas coal by between 5 percent to 10 percent this year in an effort to restrict low-quality imports.

Consumption has remained firm though, as hot temperatures stifled the north and low rainfall last month reduced hydropower output, increasing the reliance on coal to generate power. rains earlier this month have helped to replenish river and reservoir levels, which is likely to help boost hydropower this month.

Mongolian coal exports to China last month rose 58.9 percent from a year ago to 3.71 million tonnes, the customs data showed. Russian exports increased 41.7 percent to 2.57 million tonnes.

Supplies from Australia, China's largest coal supplier, rose 6.8 percent from a year ago to 6.35 million tonnes in June, the data showed.

Coal shipments from Indonesia in June fell 19.4 percent from a year ago to 2.33 million tonnes, according to the data.

Anthracite supplies from Russia in June more than tripled to 738,324 tonnes, the data showed. Anthracite is a hard coal that can be used as coking coal to fire furnaces for the steel industry.

China did not import coal from North Korea in May or June.

For tables with the data, please see: COAL/CN

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.