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China Likely to Curb Coal Imports

Coal News - Published on Thu, 21 May 2020

Image Source: China Coal Import
Reuters reported that China is expected to tighten coal import rules in the second half of 2020 to shore up its struggling domestic industry, after record arrivals in the first four months, just as demand tanked because of the coronavirus outbreak. Imports could drop as much as a quarter in the second half from the corresponding 2019 period, analysts estimate, which is likely to boost pressure on major coal exporters, such as Australia, Indonesia and Russia, which are already battling weak demand because of the virus.

Wood Mackenzie senior consultant Yu Zhai said “China’s total coal consumption, including thermal and metallurgical coal, may reach 1.9 billion tonnes from July through December. Imports would account for about 80 million tonnes of that, or a quarter less than the 107 million in the corresponding 2019 period.”

James Stevenson, a senior director at IHS Markit, estimates China’s full-year coal imports could fall to 275 million tonnes, with thermal coal plunging about 20% on the year, but seaborne metallurgical coal arrivals seeing a slight pick-up.

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Posted By : Yogender Pancholi on Thu, 21 May 2020
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