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Chinese coal imports surge in July 2018

Coal News - Published on Tue, 14 Aug 2018

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ECNS reported that China's coal imports in July hit a record high in four and a half years as demand for coal-fired electricity increased during the summer, official data showed. According to data from the General Administration of Customs, China imported 29 million tonnes of coal in July, up 49% YoY, the highest monthly volume since January 2014. The data showed that the value of imports surged 63% YoY to CNY 17.9 billion in July.

China is promoting the use of clean energy to reduce its dependence on coal, but the latter still accounted for 60.4% of the country's energy consumption in 2017. The share narrowed by 1.6 percentage points from the previous year.

Increased imports and port inventories kept a lid on coal prices. The Bohai-Rim Steam-Coal Price Index, the country's benchmark power coal price, stood at 567 yuan per tonne for the week between Aug. 1 and Aug. 7, the same as the previous week.

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Posted By : Rabi Wangkhem on Tue, 14 Aug 2018
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