Coal Import and Export Situation in the First Half of 2011

Business News Agency September 9 hearing This year, China's coal imports and exports have dropped significantly. According to customs statistics, total coal exports from January to June totaled 8.75 million tons, down 13.7% from the same period of last year; imports were 70.49 million tons, down 11.8% year-on-year; net imports were 61.74 million tons, down 13% year-on-year. The specific situation is:

First, the volume of bonded imports and exports increased significantly. From January to June, the bonded warehouses exported 1.987 million tons of coal under entry and exit, a 13-fold increase over the same period of the previous year, accounting for 22.7% of the total coal exports; and imported 3.817 million tons of coal, an increase of 3.8 times year-on-year, accounting for total coal imports. 5.4%. Since the end of last year, fluctuations in the spread of coal at home and abroad have increased, and traders have adjusted the flow of imports and exports along with changes in market conditions, which is the main reason for the significant increase in bonded trade volume.

Second, imports from Mongolia and North Korea grew faster. Affected by natural factors such as the rainy season and floods, international coal prices rose sharply at the end of last year and earlier this year, resulting in a drop in our coal imports in the first half of the year. In the same period, imports from Mongolia and North Korea increased rapidly. From January to June, I imported 7.93 million tons of coal from Mongolia, an increase of 15.3% over the same period of the previous year; imported 5.20 million tons from North Korea, a year-on-year increase of 7.5 times. In recent years, Mongolia's and North Korea's coal production capacity and output have grown rapidly, and prices have certain advantages. This is the main reason for the increase in imports from these two countries.

Third, the volume of exports to traditional markets outside Japan has fallen sharply. Japan, South Korea, Hong Kong and Taiwan are the traditional markets for our coal exports. From January to June, I exported 3.24 million tons of coal to South Korea, which was 27.6% lower than the same period of the previous year, and exported 1.14 million tons to Taiwan, a year-on-year decrease of 44.7%. There was basically no export to the Hong Kong market. Due to the implementation of the annual long-term agreement in the first quarter, the export volume to the Japanese market increased. From January to June, the cumulative export volume was 4.09 million tons, which was a year-on-year increase of 28.5%.

Recently, domestic coal prices have declined, and coal reserves at ports are at a relatively high level. From the perspective of price movements and corporate in-use contracts, it is expected that coal exports will continue to decline in the next few months, and imports will remain relatively stable. It is unlikely that substantial growth will occur.