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China Coal Imports Fall 20% in May Even as Demand Rises

China Coal Imports Fall 20% in May Even as Demand RisesChina Coal Imports Fall 20% in May Even as Demand Rises

China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, customs data showed on Sunday.
Analysts and industrial participants had expected China to tighten coal import rules in the second half of 2020 to support domestic miners, and imports starting in July may drop by as much as a quarter from the corresponding 2019 period, Reuters reported.
Sunday’s data showed the country imported 22.06 million tons of coal last month, according to the General Administration of Customs. That compares with 30.95 million tons in April and 27.47 million tons in May 2019.
In the first five months of this year, China brought in 148.71 million tons of the fuel, up 16.8% from the same period last year.
Electricity consumption has been rising among both industrial and residential users as firms are ramping up production amid the economic recovery after the loosening of restrictions to curb the coronavirus outbreak, while households started to crank up their air conditioning because of warmer weather.

 

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