China's coal imports fall due to higher costs

China’s coal imports fell by 15 % month-on-month to 11.77 million tons in August due to higher costs and a rise in domestic supplies, Bloomberg reported. According to customs data, imports of the fuel are still higher than the 3.79 million tons reported the same period last year. Imports fell for the first time month-on-month this year in July after China reopened small mines to meet an increase in demand spurred by a recovery in the economy. August exports rose 54 % from the previous month to 1.91 million tons. Coal prices at Qinhuangdao port, a domestic benchmark price, rose 3% in the week to September 21 to between 590 yuan and 610 yuan, the China Coal Transport and Distribution Association said. Crude oil imports fell to 18.47 million tons in August from a record 19.63 million tons in July. August imports were still the second-highest on record.