By Reuters
BEIJING, Oct 14 (Reuters) – China’s coal imports reached a monthly record high in September, customs data showed on Monday, as international coal prices declined.
September shipments were at 47.59 million metric tons, according to General Administration of Customs data, up 13% from a year earlier.
Newcastle coal prices , an Asian benchmark, fell through most of September to as low as $136.46 per metric ton on Sept. 23. That was down by 7% from August’s high of $147.13 per ton, making imported coal more attractive relative to domestic supply.
Meanwhile, China’s thermal power generation returned to growth in August as heatwaves drove power demand and as hydropower output moderated.
Demand from the chemicals industry is also supporting coal use, analysts say.
For the first nine months of 2024, coal imports stood at 3.89 billion tons, up 11.9% from the same period a year earlier.
Reporting by Colleen Howe Editing by Bernadette Baum
