New | China coal imports set for rebound
April shipments fall from a year ago amid easing demand in downstream industries
China's coal imports from top supplier Australia fell almost 18 per cent year on year last month, customs data showed on Friday.
The coal trade has been hurt by persistently weak demand in China, the world's biggest coal consumer, due to easing industrial demand, with imports from No 2 supplier Indonesia also dropping nearly 13 per cent.
However, imports from both countries were up from March, with analysts forecasting further gains.
"Power plants began replenishing their coal stocks from April, and due to cheaper transportation fees compared with domestic coal mines, imports from Australia were expected to climb from a month earlier," said Zhang Xiaojin, an analyst with China's Everbright Futures. "Given that civilian use of electricity will increase dramatically over the summer, imports will rise further."
China imported 6.6 million tonnes of coal from Australia last month, down 17.7 per cent from the same month last year but up 23.3 per cent from March.
Imports from Indonesia fell 12.45 per cent year on year to 3.13 million tonnes, but grew 18.1 per cent from March.