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China's Jan-Nov coal imports jump 34.9%  Join our daily free Newsletter

MENAFN - 23/12/2012

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(MENAFN) China Coal Transportation and Distribution Association's director, Wang Zhanjun, announced that in the January-November period, the country's imports of coal surged 34.9 percent form a year ago to 245 million tons, reported Xinhua News.

Zhanjun said that next year's imports are forecasted to keep momentum, with ample supply from key exporters, including Indonesia and Australia.

He added that China's coal imports for 2012 are projected to reach 270 million tons, whereas coal output is expected to hit 3.7 billion tons.

On the other hand, he noted that as consumption grew at a slower pace, profits of the country's 90 major coal producers declined 22.2 percent in the first 10 months of 2012 from a year ago.

It is worth noting that in 2009, China became a net coal importer, with the amount of imported coal increasing steadily over the last 3 years as a result of the drop of prices in the international market and low shipping costs.

 






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