BEIJING: China’s coal imports hit their highest level of 2021 in November, as the world’s biggest consumer of the dirty fuel scrambled to feed its power system as the winter heating season kicked in.
The country brought in 35.05 million tonnes of coal last month, up from 26.94 million tonnes in October, data from the General Administration of Customs showed on Tuesday.
Chinese coal traders, however, were forced to sell cargoes at losses or tried to delay imports after market intervention triggered a 50% price drop that saddled them with unprofitable supplies.
Chinese authorities since October have also allowed some Australian coal, which had piled up at ports for almost a year due to political tensions between Beijing and Canberra, to pass customs clearance.
