Unable to agree on acceptable price levels with domestic coal producers, China's power supply enterprises have turned to overseas sources for coal supplies. In February, coal imports registered a sharp rise of more than 70 percent, while exports slumped by over 50 percent.
According to the statistics released yesterday by China's General Administration of Customs, the country's coal imports in February totaled 4.88 million mt, up 73 percent year on year, hitting a record peak for the last 22 months; meanwhile, China's coal exports for the month in question came to 1.44 million mt, down 52 percent compared to February 2008.