China’s Coal Import Increases by 49% in July
The coal imports in China witnessed a considerable rise in the month of July that hit a record high in four and a half years. This happened because the demand for coal-fired electricity increased during the summer as mentioned in the reports.
Talking about the figures, China imported 29 million tons of coal in July. According to the data from the General Administration of Customs, the import has been up 49 percent year-on-year, the highest monthly volume since January 2014.
"The authorities have vowed to ensure coal supplies and keep prices running smoothly during the peak season, therefore checks on imports could not be tightened in the short term," said Cheng Gong, a coal analyst at Zheshang Securities.
The value of imports increased 63 percent year-on-year to 17.9 billion yuan ($2....