Shanghai: Information and statistics made public by the Chinese General Administration of Customs show that the Asian powerhouse became a net coal importer for the first time last year. The figures released, which do not include those for December 2009, show that China imported over 89.10m tonnes of coal during the first 11 months of the year just ended, surpassing the 22.4m tonnes of coal exported during the same period. The discrepancy is expected to increase when the figures for the last month are released, with analysts estimating net imports in the region of 97.6m tonnes.
Local media has attributed the increase in imports to a price war between Chinese coal producers and local power plants in the country that resorted to cheaper international supplies. [15/01/10]
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