March coal imports up as utilities restock

By Reuter – Global Times Source:Reuters-Global Times Published: 2016-4-13 22:18:01

Coal imports stood at 19.69 million tons in March, up 15.6 percent year-on-year, China's customs authority said on Wednesday, as power plants replenished stocks ahead of the peak summer consumption period.

Imports in the first quarter reached 48.46 million tons, down 1.2 percent, according to the General Administration of Customs.

Zhang Xiaojin, an analyst at Everbright Futures, said declining stockpiles, tougher domestic production controls and declining import volumes in January and February had raised the appetite of traders.

China's coal sector has been hit by slowing domestic demand and excess capacity. This has also curbed the country's appetite for imports, which fell almost 30 percent in 2015.



Posted in: Economy

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