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Thursday, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST


COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 14 October 2013. According to BNP's analysis report, China has imported 25.96 m tonnes of coal in August.

“We think the m-m decline was mainly due to the narrowing price gap: 1-3% from mid-August vs 7-9% in July, BNP said. "We expect import coal volume to decline, with current price discount reversal and with the cancelation of zero tariff on lignite" said BNP's analyst Daisy Zhang, CFA.

Daisy Zhang further said in her report, Chinese domestic coal price discount narrows on price recovery and freight rate increase. This week’s domestic coal price discount narrowed to 2.6%, due to the recovery of domestic coal price and an increase in the domestic freight rate.”

The report further indicate that, the Newcastle spot price was up 0.5% w-w to USD 80.54/tonne and RBCT price was up 2.0% w-w to USD 79.63/tonne. The price increase was offset by an 11% w-w decline in international freight rate, while domestic freight rate started to rise again with QHD to SH freight up 6.4% w-w.



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