China to remain a net importer of coal in 2010

Wednesday, 14 July 2010 13:49:45 (GMT+2)

According to the latest data issued by the Chinese customs authorities, in the first half of this year China exported 10.14 million mt of coal, down 13.1 percent compared with the corresponding period of last year. Meanwhile, the total income from coal export sales for the given period was $1.05 billion, decreasing by 26.8 percent year on year. During the period in question, China's average export price for coal was $103.3/mt FOB, declining by 15.8 percent from the same period of 2009.

In June, the country's coal export volume came to 1.27 million mt, increasing by 11.4 percent compared to June 2009, with the total resulting revenue reaching $188 million. In the month in question, the average coal export price was $147.8/mt FOB, up 48.1 percent year on year.

On the import side, in the first five months of this year China's total coal imports amounted to 68.98 million mt, up 114 percent year on year. According to current estimates, China's coal imports for the whole year will reach 100 million mt. Thus, China is expected to remain a net coal importer in 2010.

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