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UPDATE 1-China March coal imports rise from Feb; North Korea quarterly figure drops

Published 13/04/2017, 02:28 pm
© Reuters.  UPDATE 1-China March coal imports rise from Feb; North Korea quarterly figure drops

(Adds background, analyst comments)

BEIJING, April 13 (Reuters) - China's coal imports in March rose 12.2 percent from a year ago, customs data showed on Thursday, reflecting strong consumption from power stations. Quarterly data on North Korean imports plunged as China's ban on imports took effect.

The year-on-year increase suggests a sustained appetite in China for lower-priced foreign coal amid a prolonged domestic coal price rally, which has been triggered by the government's curbs on smog and overcapacity.

March imports totalled 22.09 million tonnes, up 24.9 percent from February, data from the General Administration of Customs showed.

"The year-on-year increase in monthly coal imports is quite high and quite unexpected," said Zhang Xiaojin, a coal analyst with Everbright Futures. "Demand for imported coal remains strong in April, but shipments could trend lower due to the Australian cyclone."

Coal imports for the first three months of 2017 totalled 64.71 million tonnes, up 34 percent from the same quarter a year ago.

Coal imports from North Korea last quarter fell 51.6 percent from a year ago at 2.678 million tonnes.

In a news briefing, the customs agency said China has stopped issuing permits for importing coal from North Korea on Feb. 18 as part of its efforts to comply with United Nations sanctions against Pyongyang's nuclear and missile program.

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