China`s net import of coal doubled in first half year
2010-07-23 13:38:29Source:People′s Daily OnlineAuthor:
In the first half of 2010, China's coal imports continued last year's upward trend, staying above 10 million metric tons per month. Net imports were about 71 million metric tons, nearly double the increase during the same time last year.
According to the statistics from the National Energy Administration (NEA) on July 20, China's coal imports reached roughly 81.1 million metric tons, an increase of nearly 70 percent. Meanwhile, China's total coal exports fell 13.1 percent to about 10.1 million metric tons.
According to coal prices on GlobalCoal Web site, imported coal costs almost 97 U.S. dollars per metric ton in Australia’s Newcastle port. It will lose its advantage over domestic coal when freight costs and taxes are factored in.
With regard to recent rising international coal prices, imported coal is losing its price superiority. It is estimated that coal imports will increase at a lower speed in the latter half of the year, according to the NEA.
China is likely to continue have a large demand for imported coal from 2011 to 2013, which will make China the leading force in the Asian-Pacific area and world coal trade unexpectedly, said Gong Yunhua and Liu Zhaoliang, analysts from Qilu Securities Co., Ltd.
China's coal imports have expanded since 2009, reaching more than 100 million metric tons per year. China has become a large player in international coal transportation by sea, the volume of which was about 900 million metric tons.
China's coal imports account for more than 30 percent of the Asian-Pacific coal trade. Therefore, China has occupied a decisive position in the international coal trade market including related markets like the steel product market or sea transportation.
According to the statistics from the National Energy Administration (NEA) on July 20, China's coal imports reached roughly 81.1 million metric tons, an increase of nearly 70 percent. Meanwhile, China's total coal exports fell 13.1 percent to about 10.1 million metric tons.
According to coal prices on GlobalCoal Web site, imported coal costs almost 97 U.S. dollars per metric ton in Australia’s Newcastle port. It will lose its advantage over domestic coal when freight costs and taxes are factored in.
With regard to recent rising international coal prices, imported coal is losing its price superiority. It is estimated that coal imports will increase at a lower speed in the latter half of the year, according to the NEA.
China is likely to continue have a large demand for imported coal from 2011 to 2013, which will make China the leading force in the Asian-Pacific area and world coal trade unexpectedly, said Gong Yunhua and Liu Zhaoliang, analysts from Qilu Securities Co., Ltd.
China's coal imports have expanded since 2009, reaching more than 100 million metric tons per year. China has become a large player in international coal transportation by sea, the volume of which was about 900 million metric tons.
China's coal imports account for more than 30 percent of the Asian-Pacific coal trade. Therefore, China has occupied a decisive position in the international coal trade market including related markets like the steel product market or sea transportation.
