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| China coal demand rise seen |
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| PostTime:2010-03-09 07:51:14.0 View:16 |
| CHINA'S National Development & Reform Commission has predicted growth of 5% this year in domestic coal production. This would take output from 3Bn tonnes in 2009 to 3.15Bn this year, according to China's leading government-run economic think tank. It also implies a very strong level of imports, perhaps exceeding the record 126M tonnes in 2009. This was three times the amount imported in 2008. These figures were boosted by December's demand, when exceptionally cold weather pushed the month's imports up sixfold from December 2008 figures ? representing 80 more Capesize bulkers for the month, or close to 200 extra Panamax shipments. Spot prices were pushed up to almost $100 per tonne. If the same 7% growth rate in consumption continues this year, demand will place a firm floor under prices. |
| Source:Portguide Author: |
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