China's Coal Imports Slump 42% as Australian Cargoes Delayed

[Yongpeng Sun-Tastaufen]

https://www.bloomberg.com/news/arti...mports-slump-42-as-australian-cargoes-delayed

• Daily shipments fell to 630,036 tons from highest since 2014
• Natural gas imports retreat after hitting record in January

China’s coal imports in February tumbled 42 percent from the prior month as the world’s top buyer stalled custom clearances of shipments from Australia, sparking speculation it was retaliating politically against one of its biggest suppliers.

• Shipments dropped to about 630,036 tons a day from 1.08 million in January, which was the highest since 2014, according to Bloomberg calculations based on customs data released Friday.
  • Total overseas purchases in the first two months gained 3.8 percent from a year ago to 51.1 million tons.

Key Insights

• China has delayed customs clearance of coal imports from Australia to as long as 40 days, a move seen as a response to Canberra’s decision to reject equipment from Chinese tech giant Huawei Technologies Co. for its next-generation telecommunications network.
• China said this week its customs processes are normal, following earlier remarks that the increased scrutiny is part of efforts to enforce environmental standards.
• The country often tweaks its coal import policies as a tool to manage its domestic market, clamping down on shipments to encourage demand for locally-mined supply and relaxing those curbs to tame price rallies.
• Lower imports, coupled with strict safety checks of domestic producers following mining accidents, have boosted prices in recent weeks. Spot coal in China is at the highest since November.

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• China’s natural gas imports declined, snapping a run of record purchases since the winter heating season began in November.
  • Shipments fell to about 7.57 million tons last month from 9.81 million in January.
  • Gas imports during January and February were 19 percent higher year-on-year.

 

[Yongpeng Sun-Tastaufen]

@pakistanipower @nahtanbob @gambit @vostok @F-22Raptor @LeGenD @KAL-EL @Get Ya Wig Split

 

[AZADPAKISTAN2009]

Pakistan is now producing Coal , which is ready to be supplied to China

 

[SBUS-CXK]

Pakistan is now producing Coal , which is ready to be supplied to China

https://www.bloomberg.com/news/arti...mports-slump-42-as-australian-cargoes-delayed

• Daily shipments fell to 630,036 tons from highest since 2014
• Natural gas imports retreat after hitting record in January

China’s coal imports in February tumbled 42 percent from the prior month as the world’s top buyer stalled custom clearances of shipments from Australia, sparking speculation it was retaliating politically against one of its biggest suppliers.

• Shipments dropped to about 630,036 tons a day from 1.08 million in January, which was the highest since 2014, according to Bloomberg calculations based on customs data released Friday.
  • Total overseas purchases in the first two months gained 3.8 percent from a year ago to 51.1 million tons.

Key Insights

• 
  
  
  • China has delayed customs clearance of coal imports from Australia to as long as 40 days, a move seen as a response to Canberra’s decision to reject equipment from Chinese tech giant Huawei Technologies Co. for its next-generation telecommunications network.
  • China said this week its customs processes are normal, following earlier remarks that the increased scrutiny is part of efforts to enforce environmental standards.
  • The country often tweaks its coal import policies as a tool to manage its domestic market, clamping down on shipments to encourage demand for locally-mined supply and relaxing those curbs to tame price rallies.
  • Lower imports, coupled with strict safety checks of domestic producers following mining accidents, have boosted prices in recent weeks. Spot coal in China is at the highest since November.

Get More

• 
  
  
  • China’s natural gas imports declined, snapping a run of record purchases since the winter heating season began in November.
    • Shipments fell to about 7.57 million tons last month from 9.81 million in January.
    • Gas imports during January and February were 19 percent higher year-on-year.

1, first thank you Pakistan.

2, Then... China is to stop imports of Australian coal.

China Restricts Australian Coal Imports in Likely Retaliation to Huawei 5G Ban

Chinese traders freeze Australian coal orders amid 40-day customs delays – sources

China stops importing Australian coal

@undertakerwwefan You are lovely.

 

[TaiShang]

China's coal industry sees better profitability

Xinhua, March 3, 2019

China's coal supply and demand was basically balanced last year, with prices fluctuating within a reasonable range, an industry report showed.

Profits of China's major coal producers rose 5.2 percent year-on-year to 288.82 billion yuan (about 43 billion U.S. dollars). Revenues increased 5.5 percent to 2.27 trillion yuan, according to a report issued by the China National Coal Association.

The number of coal mines was reduced sharply, down to 5,800 at the end of 2018, and the average production capacity was raised to about 920,000 tons per year.

The coal industry still faces deep-seated problems such as relative overcapacity and imbalanced development, the report said.

China's coal consumption is expected to remain stable in 2019, and is likely to see a looser balance between supply and demand, the association forecast in the report.

China produced 3.55 billion tons of raw coal last year, up 5.2 percent year on year, according to the National Bureau of Statistics.

http://www.china.org.cn/business/2019-03/03/content_74524988.htm

 

[Verve]

Australian housing sector bubble is bursting .. and this to add on top.