Friday, April 19, 2013

Chinese Coal Imports to Jump 70% By 2015


Noble sees China importing 400m tonnes of coal by 2015

Speaking at a Coaltrans conference in Beijing, Neil Dhar, co-head of hard commodities at trading house Noble, said he expects total coal imports by the country to rise by 70% from current levels.

China's total coal imports are expected to rise to nearly 400 million tonnes by 2015, around 70 percent higher than the current level, said Neil Dhar, co-head of hard commodities at trading house Noble.

Dhar was speaking at a Coaltrans conference in Beijing.

Chinese coal imports were 234.3 million tonnes in 2012, up 28.7 percent on the year, and hit 43.28 million tonnes in the first two months of the year, up 30.94 percent.

A Reuters poll earlier this year showed that Chinese coal imports could fall for the first time in five years this year due to rising domestic supply and an improved coal transportation network. (Reporting by Fayen Wong; Editing by Ed Davies)