According to the data issued by the Entry-Exit Inspection and Quarantine Bureau of Zhangjiagang, China, in the first ten months of 2010 the aggregate coal tonnage arriving at Zhangjiagang port came to 1.087 million mt, decreasing by 31.5 percent year on year. The total value of the imported cargoes was $180 million, down 18 percent compared with the same period last year.
The significant decrease in the coal import volume was partly due to the lack of strength of the US dollar and the recovery of the world economy. The depreciation of the US dollar against other currencies has recently resulted in continuous increases in international coal prices and in freight rates. Specifically, the import prices of coking coal ex-Canada and ex-Australia have both risen to $232/mt CFR, up from the peak level of $165/mt CFR recorded in 2009. This price is at the same level as the domestic market price of coking coal in China.
On the other hand, power supply restriction measures implemented by the governments of various regions in China in order to save energy and reduce emissions have had a negative impact on domestic demand for coal used in power generation.