China coal imports in May up 20.7pc from April

BEIJING: China's coal imports totalled 56.88 million tonnes in the first five months of the year, down 16.6 percent from a year earlier, the General Administration of Customs said on Friday.

Customs did not give a figure for May, but previous data show January-April imports totalled 43.48 million tonnes, implying that 13.4 million tonnes were imported in May a 20.7 percent rise from 11.1 million tonnes in April, and up 21.8 percent from a year earlier.

China had a bigger appetite for imports in April, with momentum picking up further in May as rising domestic prices made buying from overseas, especially from Indonesia and Australia, a cheaper alternative.

Imports for June are poised to rise further and could top 16 million tonnes, according to some trade estimates, as domestic prices soared to a 2-1/2 year high and power plants boost run rates to cope with peak summer demand that will stretch on until August.

Domestic thermal coal prices climbed for a 12th week to above $130 per tonne, as utilities nationwide steadily stepped up orders to prepare for peak summer demand, keeping prices at a 2-1/2 year high and opening opportunities for higher imports.

The customs office did not give a breakdown of imports. More detailed data is due to be released later this month.

Copyright Reuters, 2011