Wed,19 Oct 2011
Reuters citing Mr Phil Ren of China Tader Coal SCM Company and Vice President of Northeast Asia Coal Exchange Center as saying that China 2011 thermal coal imports are likely to be around 150 million tonnes to 160 million tonnes having recovered in the second half of the year after a slow start.
Mr Ren said speaking at the Coaltrans annual conference in Madrid that China thermal coal imports could rise to account for 10% of the country total consumption 400 million tonnes in five years' time.
He said that China coal import levels are hard to predict because China imports more when domestic prices are higher than international prices, but the country in any case needs imported coal for the southeast regions.
He added that "For economic and transport reasons China has to import coal to meet its southeast consumption. He also said that imports could be 5% to10% of China total consumption which is forecast at 4 billion tonnes so therefore 10% of that is 400 million tonnes that's a lot of coal."
(Sourced from Reuters)
Reuters citing Mr Phil Ren of China Tader Coal SCM Company and Vice President of Northeast Asia Coal Exchange Center as saying that China 2011 thermal coal imports are likely to be around 150 million tonnes to 160 million tonnes having recovered in the second half of the year after a slow start.
Mr Ren said speaking at the Coaltrans annual conference in Madrid that China thermal coal imports could rise to account for 10% of the country total consumption 400 million tonnes in five years' time.
He said that China coal import levels are hard to predict because China imports more when domestic prices are higher than international prices, but the country in any case needs imported coal for the southeast regions.
He added that "For economic and transport reasons China has to import coal to meet its southeast consumption. He also said that imports could be 5% to10% of China total consumption which is forecast at 4 billion tonnes so therefore 10% of that is 400 million tonnes that's a lot of coal."
(Sourced from Reuters)
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