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China to Restrict Coal Imports to 300 Million Tonnes

Coal News - Published on Mon, 11 Nov 2019

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Mr Yang Xianfeng president of the China Coal Transportation & Distribution Association told a conference in Shanghai that China is likely to hold annual coal imports at between 200 million and 300 million tonnes. He said “Imports at this level are necessary to supplement domestic miners and maintain balanced trade with exporting nations. China last exceeded the upper limit in 2013, but this year expectations have built that 300 million tonnes could again be reached after cargoes in the first 10 months hit 276 million tonnes, in part due to cheaper overseas fuel.”

He said “We will maintain a certain level of imports, but we also don’t want imports to be too big. The target is to ensure both domestic supply-demand balance, and also balanced global trade.”

China regularly tries to control imports to help local miners by limiting the amount of competing coal. In 2018, foreign purchases were held at 281 million tonnes, with cargoes shut out almost entirely in the last weeks of the year.

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Posted By : Rabi Wangkhem on Mon, 11 Nov 2019
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