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China coal production rises 7.6pct in October 2018

Coal News - Published on Mon, 19 Nov 2018

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Montel reported that Chinese coal production in October rose by 7.6% on the year to 9.8m tonnes per day (305m tonnes), further alleviating any near-term need to increase imports, National Bureau of Statistics data showed. In response – and amid high stocks and government restrictions on imports – Chinese coal and lignite imports last month fell in October to a five-month low of 744,000t oer day, Montel reported.

The data showed that domestic output in the first 10 months of the year was meanwhile a marginal 1.6% higher than in January-October 2017, at 2.9bn tonnes.

An analyst with a trading house said that “For the near future, [Chinese coal] demand is expected to remain bearish,” adding the coal burn at coastal plants was lingering at below five-year lows.

She said that “Current inventories are adequate and macro data indicates slack [industrial] activity.”

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Posted By : Nanda Koijam on Mon, 19 Nov 2018
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