China's coal imports have been steadily rising since January. According to data released by the General Administration of Customs on September 8, China imported 32.95 million tonnes of coal in August, representing an increase of 14.9% year on year and 0.2% month on month.
From January to August, the country imported a total 220.28 million tonnes of coal, up 8.1% compared with the same period of 2018.
Suppose the GAC continues to control coal imports this year on par with that in 2018, the total amount of customs quotas for September-December is only 60.95 million tonnes, or 15.24 million tonnes each month.
This means a more stringent control in the remaining months of the year. China tightened grips on coal imports from all sources during November-December last year, when import quotas were exhausting, leading to a slump in import prices and moderate increase in domestic prices. In this sense, the quantity of import quotas available is a key factor to watch for China's import market in the fourth quarter and even in early 2020.
Fenwei analysts are conducting monthly investigations on changes regarding import quotas, limitation of vessel discharge and customs clearance policies, and have compiled summary report on 24 major ports across the country.
If you are interested in changes of coal import policies in China, don't miss our Monthly Survey Report on Coal Import Quotas of Chinese Major Ports (in Excel).
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(Writing by Alex Guo Editing by Harry Huo)
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