Chinese coal demand in Q1 remains stable quarter on quarter

Friday, 07 May 2010 17:22:58 (GMT+3)   |  
       

Compared with the last quarter of 2009, in the first quarter of 2010 Chinese domestic coal demand remained stable at a high level, with average daily consumption of coal just 0.9 percent higher than in Q4 2009; at the same time, supplies increased at a relatively rapid rate in the market. Thus, the problem of the imbalance between demand and supply was resolved to some degree. Meanwhile, coal prices also followed a stable trend during this period.

Based on the official statistics, in Q1 total consumption of coal in China was 864 million mt, up 17.4 percent year on year; during the period. In the electricity sector, coal consumption reached 444 million mt, increasing by 22 percent, with a year-on-year increase of 8.2 percent in average daily consumption. During the period in question, the construction steel sector consumed 89 million mt of coal in total, an increase of 15.3 percent, and the average daily volume was down 27.7 percent year on year. With regard to the chemical industry, coal consumption totaled 36 million mt, rising by 6.1 percent, with a 5.5 percent rise in the average daily level, both on year-on-year basis. Coal consumption in the remaining sectors stood at 159 million mt, climbing up 7.8 percent, with the average daily level up 8.9 percent, both year on year.

According to the data issued by China's National Bureau of Statistics, in the first quarter China produced 751 million mt of raw coal, up 28.1 percent year on year. During the same period, the total delivery volume of coal by railway was 495 million mt, increasing by 21.4 percent, while the average daily delivery volume was up 10 percent compared to the last quarter of 2009. At the main ports, aggregate shipments (domestic and export) totaled 127 million mt, 18.4 percent more than the corresponding period of 2009, with average daily shipments up 5.3 percent year on year.

As shown in the report released by China's Ministry of Transportation, in the first three months China's main ports totally shipped 5.69 million mt of coal for the export markets, up 3.8 percent, while average daily shipment was up 5.8 percent - both quarter on quarter. Additionally, the customs data indicate that coal imports in the first quarter were 44.41 million mt, rising by 2.2 percent, while average daily imports registered an increase of 13 percent - both quarter on quarter. As a result, net imports of coal came to 38.71 million mt, compared with 6.21 million mt in the corresponding period of last year.


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