Chinese coal imports in February jumped 73% year on year to 4.88 million tons, the highest volume recorded in the last 22 months, or an increase of 63% from January, according to statistics released by China's General Administration of Customs (GAC) on Monday.
Experts attributed the surge in the amount of coal imported by China, the largest coal producer and consumer in the world, to declining international coal prices, lower shipping costs and high domestic coal prices.
In addition, the disagreement between domestic utilities companies and coal miners over the contract coal price for 2009 has also prompted utilities to buy coal from overseas.
Coal imports are expected to continue to climb in March, and likely to fall beginning in April, according to Wang Ling, an analyst with Umetal.com.
Experts attributed the surge in the amount of coal imported by China, the largest coal producer and consumer in the world, to declining international coal prices, lower shipping costs and high domestic coal prices.
In addition, the disagreement between domestic utilities companies and coal miners over the contract coal price for 2009 has also prompted utilities to buy coal from overseas.
Coal imports are expected to continue to climb in March, and likely to fall beginning in April, according to Wang Ling, an analyst with Umetal.com.