May coal imports fall to a low for 2010

China imported 11 million tons of coal in May, the lowest for a single month to date this year, the China Securities Journal reported Wednesday, citing data from the General Administration of Customs.

The import volume fell 19 percent from April, though it was 16.59 percent higher than the same month of 2009.

January-to-May coal imports surged 114 percent year-on-year to 68.98 million tons, surpassing the overall import volume for the first seven months of last year, the paper reported.

Coal imports this year peaked in January at 16.07 million tons, and average import volume for the first four months was above 13 million tons.

Analysts say the shrinking imports in May can be attributed to a narrowing gap between overseas and home coal prices, and imports later this year would not jump as they did at the beginning of this year.
(Source:chinadaily)