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China's Coal Imports to Plunge in H2 2019

Coal News - Published on Fri, 19 Jul 2019

Image Source: Oil Price
Analysts told Montel that Chinese coal imports are likely to plunge in the H2 of 2019 as customs officials face the prospect of exhausting their quotas from as early as September. The world’s biggest coal consumer imported 154m tonnes of the fuel over the H1 of this year, up 6% YoY. This leaves officials with a choice of curbing foreign purchases for the remainder of the year or violating a government target to limit import volumes to around last year’s level of 281 million tonnes.

Mr Yu Zhai, senior consultant for energy information specialists Wood Mackenzie, said that we expect China will restrict imports in the second half of 2019. Customs officials had already begun asking ports to restrict low quality coal imports in June, adding he expected negotiations to yield tighter imports ahead. Roughly 80% of China’s coal imports were thermal last year, with the rest metallurgical. Thermal coal was likely to see the bulk of import curbs as it was easier to replace domestically.

Mr Yu said that China would import 185 million tonnes of thermal coal this year and that it had already received 108 million tonnes. With just 77 million tonnes to go, he saw imports falling sharply from September.

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Posted By : Sanju Moirangthem on Fri, 19 Jul 2019
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