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China June coal imports jump 16.5% on month to 16.6 million mt

China’s coal imports, including lignite, thermal and metallurgical coal, totaled 16.6 million mt in June, up 16.5% from May, according to preliminary data released Monday by the General Administration of Customs.

“Coal trade data showed a positive reversal with imports picking up in June. They have been on a steady decline since hitting a high of 35Mt [million mt] in early 2014,” ANZ analysts wrote in a note to clients on Monday.

China’s June imports were, however, down nearly 34% year on year.

ANZ analysts noted that weak hydro output in June partly supported demand for coal.

“Imports have also found support from a widening spread between Australian Newcastle and Chinese domestic prices which continues to favor imports,” they added.

Over January-June, the country imported a total of about 99.87 million mt of coal, down 37.5% year on year, with the total value of the imports nearly halving to $6.37 billion, the data showed.

Over January to June, China exported about 2.34 million mt of coal, down about 26% from the same period last year, with the total value of exports slumping about 38% year on year to about $248.10 million.
Source: http://www.platts.com/latest-news/coal/singapore/china-june-coal-imports-jump-165-on-month-to-27604035