Source AP ©

China registers as net coal importer in April

As demand for power generation rises in China, country imported more coal than exported in April.

China's coal imports rose 27.1 percent from a year ago to 4.92 million metric tons in April, according to data released Tuesday by the General Administration of Customs. China's exports for April fell 18.5 percent from last year to 4.46 million tons.

China, the world's top coal producer, became a neat coal importer the first time in January. Between January and April, it was a net exporter only in February. April was the fifth straight month in which China's exports had fallen from a year ago.

If the trend holds, China may become a net coal importer for the full year.

More than 80 percent of China's electricity is produced at coal-fired power plants. China's electricity output rose 15.5 percent in the first quarter from a year ago to 701.2 billion kilowatt-hours, according to a recent statement by the China Electricity Council. Its total power consumption rose 14.92 percent for the quarter to 718.9 billion kilowatt-hours.

Last year, the government scrapped export rebates on coal Sept. 15 to encourage the use of domestic resources. It also cut coal import tariffs Nov. 1 to 1 percent from 3 percent to 5 percent.

China's exports for the first four months of the year totaled 15.97 million tons, down 28.6 percent from the same period last year. Imports for the period rose 50.5 percent to 19.22 millions.

The strong domestic demand growth has boosted China's coal prices. April's prices of the benchmark free-on-board price of Datong Quality Mix thermal coal were quoted at 480 to 495 yuan a metric ton (US$62.57-US$64.53; EUR46.18-EUR47.63), up 5 percent from a year ago. The benchmark prices hit a record high in mid-January at 515 to 525 yuan a metric ton.

When the bill was submitted to Congress on August 2, the reason for imposing the new sanctions on Russia was based on Russia's alleged interference in the US presidential election in 2016, but then something clicked

US sanctions to kill Russian banks and sovereign debt?

The Central Bank of Turkey announced measures to protect the financial market of Turkey against the background of the collapse of the Turkish lira and conflict of interests with the United States of America

Turkey desperately tries to rescue its national currency as it falls to all-time lows
Comments
US sanctions to kill Russian banks and sovereign debt?
Russia to build major naval base on the coast of Caspian Sea
US sanctions to kill Russian banks and sovereign debt?
US sanctions to kill Russian banks and sovereign debt?
US sanctions to kill Russian banks and sovereign debt?
US sanctions to kill Russian banks and sovereign debt?
US sanctions to kill Russian banks and sovereign debt?
Russia to build major naval base on the coast of Caspian Sea
US sanctions to kill Russian banks and sovereign debt?
Turkey desperately tries to rescue its national currency as it falls to all-time lows
World War Three may break out because of USA's agony
World War Three may break out because of USA's agony
Ukraine dreams of what it can do to Crimea after winning war with Russia
Turkey and USA take their relationship to breaking point
Russia starts Star Wars first. USA concerned and puzzled
Russia to build major naval base on the coast of Caspian Sea
US sanctions to kill Russian banks and sovereign debt?
US sanctions to kill Russian banks and sovereign debt?
The end of the theory of a Nobel Prize in chemistry?
US sanctions to kill Russian banks and sovereign debt?
Russia starts Star Wars first. USA concerned and puzzled