Mongolia leads coking coal exports to China in 2011
Mongolia has overtaken Australia to become China’s largest coking coal supplier in 2011 due to rapid ramp up of its coal production and competitive coal export prices.
Statistics show that China imported 20.04 million tonnes of coking coal from Mongolia last year at average price of just USD 91 per tonne rising 33.2% from a year earlier and more than five times the amount it imported from the country in 2009.
Imports from the United States also increased to 4.33 million tonnes, 24.7% higher than the prior year. Despite these respectable figures China’s total coking coal imports in 2011 witnessed 5.5% YoY fall to 44.65 million tonnes due to shrinking demand for the material under the backdrop of bleak performance in steel industry, coupled with climbing global coking coal prices.
China imported 10.32 million tonnes of coking coal from Australia last year, plunging 41% on YoY basis the volume of coking coal imported from Canada amounted to 3.24 million tonnes down 8% Indonesia sourced coking coal declined 10% to 2.52 million tonnes.
Statistics show that China imported 20.04 million tonnes of coking coal from Mongolia last year at average price of just USD 91 per tonne rising 33.2% from a year earlier and more than five times the amount it imported from the country in 2009.
Imports from the United States also increased to 4.33 million tonnes, 24.7% higher than the prior year. Despite these respectable figures China’s total coking coal imports in 2011 witnessed 5.5% YoY fall to 44.65 million tonnes due to shrinking demand for the material under the backdrop of bleak performance in steel industry, coupled with climbing global coking coal prices.
China imported 10.32 million tonnes of coking coal from Australia last year, plunging 41% on YoY basis the volume of coking coal imported from Canada amounted to 3.24 million tonnes down 8% Indonesia sourced coking coal declined 10% to 2.52 million tonnes.
The investment into alternative power generating technologies such as nuclear energy may need to be measured against the potential cost when things turn against you as unfortunately happened this year in Japan. Coal prices and coal statistics show developing economies are more likely to increase their investment into & their use of coal mining in coming years because of coal's affordability and ability to quickly meet increasing demands for electricity and steel. www.coalportal.com
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