Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

China's November coal imports slump 19% month-on-month on port curbs

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/08/2019 | 06:18am EST
Workers operate loaders unloading imported coal at a port in Lianyungang, Jiangsu

China's coal imports plunged 19% in November from the previous month as tighter import rules at ports curbed shipments towards the year's end.

China, the world's top coal importer, brought in 20.78 million tonnes of the fuel last month, data from the General Administration of Customs showed on Sunday. That compares with 25.69 million tonnes in October and 19.15 million tonnes in November last year.

Customs officials at several ports in Guangdong, Jiangsu and Shandong province in eastern China have halted clearance for vessels carrying coal since late October, three traders told Reuters last month.

Traders and utilities also cut back sharply on purchases at the end of last year after signals from Beijing aimed at keeping total imports steady year-on-year.

In the first 11 months of 2019, China imported a total of 299.3 million tonnes of coal, already exceeding 2018's total shipments of 281.2 million tonnes.

Falling profit margins at coal mines in Indonesia, China's second-biggest supplier behind Australia, had also discouraged miners there from selling to China last month, analysts and traders said.

Last week, the state planner issued a statement urging domestic coal miners and power utilities to sign long-term contracts to ensure market supply and stabilise prices.

Benchmark coal prices for 2019 long-term contracts have been set at 535 yuan ($76) a tonne during China's winter coal trade fair this week, unchanged from 2018, two traders told Reuters.

(Reporting by Muyu Xu and Dominique Patton. Editing by Lincoln Feast.)

Stocks mentioned in the article
ChangeLast1st jan.
GOLD 0.32% 1557.168 Delayed Quote.2.30%
SILVER 0.39% 18.003 Delayed Quote.0.63%
SILVER - CAPE VERDE ESCUDO 0.00%End-of-day quote.0.00%
TRADERS HOLDINGS CO.,LTD. -1.87% 105 End-of-day quote.2.94%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.55% 6.8609 Delayed Quote.-1.42%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
09:29aSpaceX to attempt rocket failure test again after bad weather delay
RE
09:29aMINISTRY OF PERSONNEL PUBLIC GRIEVANCES AND PENSI : Dr Jitendra Singh visits Udhampur as part of Special Outreach Programme of Central Government
PU
09:24aCONDUCTING BLOCK DEVELOPMENT COUNCIL ELECTIONS IN J&K A HISTORICAL STEP : Anurag Thakur
PU
07:15aTrump Campaign Talks Up Trade Deals as 'Promises Kept,' but Uncertainty Over China Lingers
DJ
07:00aIndia says no meeting with Malaysia in Davos as palm row simmers
RE
06:19aBTRC BANGLADESH TELECOMMUNICATION REGULATORY COM : Operation/Inspection/Investigation Information against fake and illegal mobile handset at Dhaka
PU
06:17aDespite great snow, Lebanon's ski slopes suffer in economic crisis
RE
04:04aPCBS PALESTINIAN CENTRAL BUREAU OF STATISTICS : The Wholesale Price Index, during Fourth Quarter of 2019 & during 2019
PU
03:12aCHINA WILL INCREASE IMPORTS FROM U.S. ACCORDING TO 'MARKET PRINCIPLES' : official
RE
03:04aWORLD ECONOMIC FORUM : Half of World's GDP Moderately or Highly Dependent on Nature, Says New Report
PU
Latest news "Economy & Forex"