China's May coal imports increased less than 1% year over year to 22.3 million tonnes as the government tried to curtail increasing prices by curbing shipments from outside the country, Reuters reported June 8.
For the first five months of 2018, coal imports were at 120.7 million tonnes, up 8.2%, Reuters reported, citing customs data.
May spot prices for Australian coal delivery from the Newcastle terminal were up over 12%, reaching a six-year record of $115.25 per ton on June 8, Reuters said.
China's peak demand season for power runs from June to August, and provinces and power generators alike have expressed concern over low imports leading to shortages.
Two major utilities have asked for a more lax policy in dealing with shipments of foreign coal in anticipation of rising demand, while industrial provinces Shandong and Guangdong have said that they may experience power shortages in the coming months, the report said.
