Tuesday, 01 Dec 2009
Statistics issued on November 26th by China National Development and Reform Commission indicated that China raw coal output remained at 2.41 billion tonnes in January to October up by 11.4% YoY and the figure in Oct stood at 273 million tonnes plus the growing imports of coal all along, the apparent consumption of coal is expected to exceed 3 billion tonnes in the year.
China coal output stood at 260 million tonnes in September 5% lower than in October. Even if coal output remained the same as in October in November and December which used to be peak period of coal output, the figure for the whole could still reach 3 billion tonnes. Taking imported coal into account, the apparent consumption of coal will probably stay between 3 billion tonnes and 3.1 billion tonnes.
It's worth noticing that China coal exports dropped 50.6% YoY in the first ten months to 18.9 million tonnes while the imports doubled by 1.7 times to 96.87 million tonnes. Thus the net import volume remained at 77.97 million tonnes compared with the 2.36 million tonnes in the same period of last year.
An expert from China Coal Transport and Distribution Association said it is out of question for China's coal imports to surpass 100 million tonnes. Analysts expect the total exports of coal of the year to be around 23 million tonnes. This way China's net imports volume would reach 87 million tonnes.
According to market insiders the long existed gap between domestic and foreign coal prices remains to be the cause for the reversed situation of coal imports and exports of the year and changes in domestic market pattern the fundamental reason. As known to all, the drastic and deep-going coal mine integration in Shanxi province this year has great curbed coal supply, leading to the largely balanced coal market at home and small-than-abroad coal drop.
Mr Huangteng an expert on coal trade said "As the winter peak season comes, domestic and foreign coal prices are both expected to be on the upside till next April. He expressed that there were signs that the price gap between domestic and foreign coal were dwindling, which may erase the advantages of importing foreign coal next year and in due time, China coal imports would drop.”
(Sourced from MySteel.net)
Statistics issued on November 26th by China National Development and Reform Commission indicated that China raw coal output remained at 2.41 billion tonnes in January to October up by 11.4% YoY and the figure in Oct stood at 273 million tonnes plus the growing imports of coal all along, the apparent consumption of coal is expected to exceed 3 billion tonnes in the year.
China coal output stood at 260 million tonnes in September 5% lower than in October. Even if coal output remained the same as in October in November and December which used to be peak period of coal output, the figure for the whole could still reach 3 billion tonnes. Taking imported coal into account, the apparent consumption of coal will probably stay between 3 billion tonnes and 3.1 billion tonnes.
It's worth noticing that China coal exports dropped 50.6% YoY in the first ten months to 18.9 million tonnes while the imports doubled by 1.7 times to 96.87 million tonnes. Thus the net import volume remained at 77.97 million tonnes compared with the 2.36 million tonnes in the same period of last year.
An expert from China Coal Transport and Distribution Association said it is out of question for China's coal imports to surpass 100 million tonnes. Analysts expect the total exports of coal of the year to be around 23 million tonnes. This way China's net imports volume would reach 87 million tonnes.
According to market insiders the long existed gap between domestic and foreign coal prices remains to be the cause for the reversed situation of coal imports and exports of the year and changes in domestic market pattern the fundamental reason. As known to all, the drastic and deep-going coal mine integration in Shanxi province this year has great curbed coal supply, leading to the largely balanced coal market at home and small-than-abroad coal drop.
Mr Huangteng an expert on coal trade said "As the winter peak season comes, domestic and foreign coal prices are both expected to be on the upside till next April. He expressed that there were signs that the price gap between domestic and foreign coal were dwindling, which may erase the advantages of importing foreign coal next year and in due time, China coal imports would drop.”
(Sourced from MySteel.net)
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Review: http://steelguru.com/news/index/2009/11/30/MTIyODg0/China_coal_apparent_consumption_to_exceed_3_billion_tonnes.html
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