Coal imports for China surged 22 percent in April from a year earlier, as traders scrambled to snap up low-cost coal from the seaborne market amid plunging demand for the fuel worldwide due to the coronavirus pandemic.
According to the official data from the General Administration of Customs, China imported 30.95 million tonnes of coal in April as compared to 27.83 million tonnes imported in March and 25.3 million tonnes in April 2019. Moreover, imports from January to April period surged 26.9 percent to 126.73 million tonnes. After easing curbs to retain the spread of the coronavirus epidemic, China has been striving to resume industrial operations and to encourage residential consumption so as to bring the economy back to normal.
The country’s electricity consumption has rebounded in April, which helped to support demand for coal which is the most widely used fuel for power generation.
Source: reuters.com
