CCC continental coal limited

china coal imports increase 3fold from safrica

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    London (Platts)--24Jul2012/759 am EDT/1159 GMT




    Chinese imports of bituminous thermal coal from South Africa, Colombia and the US in June increased significantly on month, mainly at the expense of falling volumes delivered from Indonesia, according to Chinese customs data released Tuesday.

    Price-sensitive Chinese buyers typically only buy imported coals when they are cheaper than domestic material, with Indonesia's relative proximity to the Chinese coast giving shippers from that country a distinct price advantage over other imported coals by way of lower freight costs.

    However, with the dry bulk freight market bottoming out in the second quarter, sellers of origin coals with a higher calorific value than Indonesian coal were able to compete in the Chinese market.

    South Africa upped its monthly Chinese bituminous thermal coal shipments more than threefold over May, delivering 929,823 mt in June at an average price of $110.82/mt.
 
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