Coal imports surge
Source: Xinhua |
July 6, 2010, Tuesday
|
Print Edition
Print Edition
CHINA'S coal imports surged 114.3 percent annually to 68.98 million tons from January to May on the back of strong industrial demand, the Ministry of Industry and Information Technology said yesterday.
In a statement posted on its website, MIIT attributed the increased demand to the power, steel, cement and chemical fertilizer industries.
Boosted by robust economic growth, limited supply and high summer electricity consumption, coal imports will grow, analysts said, underpinning the global coal price.
On May 28, the price of coal at Australia's Newcastle port was US$97.80 per ton, US$13 higher than January, MIIT said.
Coal prices rose 4.7 percent month on month in May, 3.5 percentage points higher than the previous month.
China was a net coal exporter in the decades before 2007.
In 2009, China imported 126 million tons of coal and exported 22 million tons. Those imports accounted for more than one-fifth of the world's total coal trade.
In a statement posted on its website, MIIT attributed the increased demand to the power, steel, cement and chemical fertilizer industries.
Boosted by robust economic growth, limited supply and high summer electricity consumption, coal imports will grow, analysts said, underpinning the global coal price.
On May 28, the price of coal at Australia's Newcastle port was US$97.80 per ton, US$13 higher than January, MIIT said.
Coal prices rose 4.7 percent month on month in May, 3.5 percentage points higher than the previous month.
China was a net coal exporter in the decades before 2007.
In 2009, China imported 126 million tons of coal and exported 22 million tons. Those imports accounted for more than one-fifth of the world's total coal trade.
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