China’s government will cap coal imports this year at 2018 levels, four sources with direct knowledge of the matter told Reuters, to support domestic producers. China imported 281.23 million tonnes of coal in 2018 including thermal coal, coking coal and anthracite. Three of the sources were told by provincial-level customs officials to restrict their imports in 2019 to no more than 2018 levels. A fourth source said the decision was made by China’s State Council.
The rising domestic coal prices have pressured profit margins at Chinese coal-fired utilities, industry executives said at the Coaltrans conference in Shanghai on Tuesday. Chen Bin of China Datang Corp also said that imported coal has advantages on price, quality and accessibility, especially to utilities located in coastal regions.
Source:Reuters
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