China coal imports more than triple in Oct (Reuters)
BEIJING - China's coal imports rose 219.5 per cent from a year earlier to 11.14 million tonnes in October, official customs data showed on Monday.
The volume, however, was 11.2 per cent lower than in September, Reuters calculation showed.
China's coal imports hit a record high of 16.07 million tonnes in June.
China, the world's largest coal producer and consumer, has become a net coal importer this year and its appetite for imported coal is expected to stay strong in coming months despite monthly ups and downs, traders said.
A clampdown on small miners and frequent mine closures as a result of mine blasts has made domestic supply tight and imports attractive.
China's coal exports declined 20 per cent from a year earlier to 2.05 million tonnes in October, customs data showed.
Imports of coking coal soared to 2.12 million tonnes, up 556 per cent from a year earlier.
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I've seen RIV interested in the Indian and Brazilian markets. I would have though China would be a good potential market for their coking coal.
Ho hum, one day RIV will breakout of the current trend.
Cheers, Skipperx
RIV Price at posting:
$5.75 Sentiment: Hold Disclosure: Held
