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Coal imports surge on higher domestic rates; exports down

By Xiao Yu (China Daily)
Updated: 2009-07-23 07:57

China's coal imports surged by 126.3 percent year-on-year in the first half of 2009, reaching 48.3 million tons, according to statistics released yesterday by China Customs.

Coal exports, at 11.7 million tons during the same period, decreased by 54.2 percent. Net coal imports reached 36.6 million tons, compared to 3.9 million tons in the same period last year.

China's raw coal output totaled 1.4 billion tons in the first half of the year, up 8.7 percent year on year, 6.1 percentage points lower than a year ago period, the National Development and Reform Commission disclosed on its website yesterday.

Analysts said the relatively higher domestic coal prices might have been the reason for the increase in coal imports.

Related publication:

Coal companies at the annual coal price negotiation conference wanted to increase term prices this year by 4 percent to pass on their higher tax burden and other rising costs. But power generators hoped to cut prices by 50 yuan ($7.32) per ton, to ensure that they would not sink into the red this year.

The tussle between the coal miners and power generators would push some of the enterprises to seek overseas coal, analysts said.

Early this month, some enterprises in Guangdong province, including Guangdong Yuedian Group, signed contracts for coal supply with the Vietnam Coal Corp (VINACOL)...

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