Concerned about supply shortage, China imported the most coal of the year in November

China bought 35.05 million tons of coal in November, up from 26.94 million tons in October, according to data from the General Administration of Customs of China today. China imported 11.67 million tons of coal in November 2020.

In the first 11 months of this year, China imported 292.32 million tons of coal, up 10.6% over the same period last year.

However, Chinese coal traders were forced to sell shipments at a loss or try to delay imports after Chinese authorities intervened in the market, causing coal prices to drop by 50%.

Chinese authorities since October have allowed a portion of Australian coal, piled up at ports for nearly a year due to political tensions between Beijing and Canberra, to be cleared. Customs figures show 777,915 tonnes of Australian coke cleared in October.

However, China has not lifted its unofficial import ban on Australian coal, according to traders.

China's daily coal output hit a record after Beijing ordered coal mines to increase output immediately to cool coal prices, helping to ameliorate power shortages. The amount of coal stored by Chinese power plants increased to 147 million tons as of November 24.

NDH