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Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009


Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million tons in October, declining by 20 percent year-on-year.

Coal export in the first ten months of 2009 totaled 18.9 million tons, dipping by 50.6 percent year-on-year. Insiders estimated that coal export in 2009 may decrease by 50 percent.

According to the statistics, coal export volume in 2008 was 45.43 million tons. Insiders predict that the export volume will maintain around 2 million tons in the last two months of 2009, and the overall export volume will reach less than 24 million tons accumulatively, dipping by over 47 percent year-on-year.

Analysis from General Administration of Customs showed that the demand of foreign markets slowed down with the impact of global financial crisis, and China's coal export shrank heavily. As China's economic recovery has driven domestic energy consumption, increasing domestic demand has brought down export.

Meanwhile, surging domestic demand also encouraged coal import. After its declining in July and August, coal import in September increased again, reaching 12.55 million tons, up 780 thousand tons compared with the previous month, and 8.85 million tons higher year-on-year, or 235.9 percent. Although the coal import volume in October was not released yet, the accumulative import volume in the first nine months has reached 85.7 million tons, up by 167 percent compared with the previous year. To readmore OnNYTurf



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Saturday, 02 January 10
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