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  • China's coal imports in May rise 17% on year to 22.19 million mt

    China imported 22.19 million mt of coal -- including lignite, thermal and metallurgical coal  in 

    May, down 10.45% from the 24.78 million mt imported in April but up 16.61% from the 19.03 

    million mt in May last year, according to preliminary figures released Thursday by the Gener

    al Administration of Customs. 


    Imports over January-May rose 29.6% year on year to 111.68 million mt. 

    "The rising total coal imports momentum [was] sustained in May, though weakened 10.5% on 

    a  month-on-month basis," Citi  analysts  said  in  a  note. "Strong year-on-year imports were 

    thanks  to continued  restocking  demand  at mines,  ports and mills and positive coking coal 

    import arbitrages since April." 


    China   exported  1.31  million  mt  of  coal  in  May, up  84.51%  year on year, the GAC data 

    showed. 


    Domestic  thermal  coal  supply  should be sufficient in the second half of this year since the 

    China government scrapped the 276-working day policy, Citi analysts said. 


    "Demand for thermal coal may also face a challenge from rising hydropower generation," Citi 

    said. 


    April coal exports were 0.89 million mt and May 2016, 0.71 million mt. 

    Exports over January-May increased 15.96% year on year to 4.65 million mt, compared with 

    4.01 million mt in the same period in 2016. 


    The  customs  data  does not include a breakdown of May imports and exports. That will be 

    available later this month.

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