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Australia’s Gladstone Coal Exports Hit 5 Month High

Coal News - Published on Wed, 10 Jul 2019

Image Source: Courier Mail
Platts, citing the Gladstone Ports Corp, reported that coal exports from the Port of Gladstone in Queensland, Australia, rose to a five-month high in June aided by a surge in volumes to China, which helped offset a slump in total Chinese coal imports. A total of 6.43 million tonne were exported from Gladstone, up 2% YoY and 8% MoM, and the highest monthly volume since the 6.45 million tonnes seen in January. China was sent the third largest volumes in a single month since the beginning of 2018 with a total of 1.41 million tonne . While still down 7% from June last year, it was a 93% increase from May.

Australia’s Department of Industry said that “Seasonal influences and import policies have led to fluctuations in China’s metallurgical coal imports over 2019. Chinese [overall] imports fell sharply on a month-to-month basis in February as they do every year due to the Lunar New Year celebrations, and by 5% YoY, as extended customs clearance times held up cargoes at some ports.”

It added that China’s steel sector, buoyed by the government’s stimulus measures such as tax cuts and increased infrastructure investment, has increased its demand for metallurgical coal.

The department added that China’s total metallurgical coal imports are forecast to rise to 68 million tonne in 2019, from 65 million tonne last year, before gradually declining to 62 million tonne in 2021, as the Chinese government eases on the stimulus policies and as steel production moderates.

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Posted By : Ratan Singh on Wed, 10 Jul 2019
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