China’s coal imports in October nearly doubled from a year ago
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On November 3, 2021, workers sort coal in the vicinity of a mine located in Datong province in China’s northern Shanxi.
AFP – Getty Images| AFP | Getty Images
BEIJING — China imported nearly twice as much coal in October as it did a year ago, despite signs the country’s power shortage is easing, according to customs data released Sunday.
According to Wind Information data, October saw 26.9 Million Tons of monthly coal purchases, an increase of 96.2% over a year.
This was 18.2% less than the 32.9 million tonnes in September.
Chinese officials have been quick to address a coal shortage in the country since late SeptemberMany factories were forced into production cuts. By mid-October, the number of Chinese provinces with significant power shortages fell to twoThe Commonwealth Bank of Australia reported that this was down from 18 at beginning of month.
China’s State Grid announced Sunday that the power supply in its operational areas had been affected by power demand returned to normalHowever, he warned about the challenges that lie ahead in the winter months.
China Data coal imports by countryThis publication is scheduled to appear in November.
China continued to be the largest single country trading partner of the U.S. China customs data revealed that while imports from the U.S. dropped sharply to 4.6% in October, their exports to the U.S. showed a rapid growth rate of almost 22.7%.
Imports from Australia — once China’s largest source of coal — slumped to 24.3% year-on-year growth in October, down from a 50.7% pace in September, the customs data showed. In October, exports rose by 22.3%, slightly lower than the 23.8% growth in September.
According to Reuters, China’s total imports grew 20.6% in October. This was below the expectations of 25%. China’s exports grew by 27.1% in October, surpassing Reuters’ prediction of 24.5%.
It is important to keep an eye on exports as they are China’s biggest growth driver in the last year and a quarter, Nomura chief China economist Ting Lu reported Sunday.
Excepting surge in producer pricesLu says that China’s exports only increased by 7% in October compared to the previous year. On Wednesday, China will release its producer price index.
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