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Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS


Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domestic consumption following an economic recovery.

Purchases rose 7 percent to 12.55 million metric tons last month from August and were more than triple what the country imported a year earlier, according to data from the customs office in Beijing today.

“The economy is improving, electricity demand is improving and so domestic demand for coal is bouncing back,” said Li Dagang, a coal analyst at Essence Securities Co. in Shanghai.

China’s demand for coal, used to generate 80 percent of the nation’s power, is rising amid government stimulus spending that drove third-quarter gross domestic product growth to its fastest pace in a year.

Net coal imports rose 7 percent to 10.53 million tons in September from a month earlier as exports reached 2.02 million tons, according to today’s data. Imports had declined in July from a month earlier after the country re-opened small mines to meet rising demand spurred by the economic recovery.

Net exports of diesel fell to 168,386 tons last month from 215,000 tons in August, according to the customs data. China has been a net exporter of diesel since December after a slower economy curbed consumption. Exports declined 26 percent to 293,759 tons from a month earlier while imports dropped 30 percent to 125,373 tons.

China’s gasoline exports fell to 505,505 tons from 518,538 tons in August. The nation didn’t import the motor fuel last month.

Record LNG

Liquefied natural gas imports climbed to a record 788,514 tons last month. Imports of the fuel, used mainly to generate electricity, more than doubled from a year earlier, today’s customs data showed.

China bought 495,243 tons of LNG from Australia, 126,679 tons from Indonesia, 104,396 tons from Malaysia and 62,197 tons from Nigeria. Imports had reached 668,232 tons in July, when demand rose during the summer consumption.

Crude oil imports fell to 17.2 million tons from August’s 18.47 million tons, confirming preliminary data released on Oct. 14. Net crude oil imports last month fell to 16.81 million tons, according to the data.
Source: Bloomberg



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