Chinese coal imports down in July

CHINESE coal imports struggled to maintain the high level achieved in June, with July imports down 2.5% month-on-month to 21.2 million tonnes, according to a report by ANZ Bank.
Chinese coal imports down in July Chinese coal imports down in July Chinese coal imports down in July Chinese coal imports down in July Chinese coal imports down in July

 

Lou Caruana

On a seasonal basis coal imports were down by 0.2% year-on-year.

“Growth in imports of various commodities showed signs of weakness in July,” the bank said.

“While most imports fell from June, it was a fall in the year-on-year growth that suggests this is more than a seasonal pattern.”

These relatively weak import numbers are likely the result of high inventories that were built up during Q2 2016, according to ANZ.

“With the impact of Brexit still hanging over China’s export driven demand, commodity imports should experience even further weakness in the coming months,” the bank said.

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