China's coal imports fall to two-year low-Bloomberg
China's coal imports fell to their lowest level in more than two years due to weak demand and rising domestic production.
This is reported by Bloomberg, Ukrinform reports.
According to Chinese customs data released on Monday, coal imports in June fell to the lowest level since February 2023.
Shipments in the first half of the year decreased by 11% compared to the previous year.
Local news agencies report that customs is increasing control over low-quality shipments from abroad, which has already blocked some shipments from the main exporters: Mongolia and Russia. The reason for the blockage was the detection of excessive levels of fluoride.
China, the world's largest consumer and producer of coal, has reportedly started selling more fossil fuels internationally in recent months. This is happening against the background of the ongoing decline in the real estate market, which has led to a slowdown in heavy industry.
Beijing is seeking to avoid a surplus of coal, which remains key to its power grid and energy security.
Domestic mining companies are expected to increase production by 5% this year, setting a seventh consecutive record, which is likely to outpace consumption growth and limit local prices, Bloomberg writes.