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China Feb coal imports from Newcastle hit 21-mth low

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Publish time: 10th March, 2015      Source: www.cnchemicals.com
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China’s coal imports from Port Waratah’s export terminals at Newcastle port in eastern Australia slumped to a 21-month low of 1.43 million tonnes in February, 34% lower from January’s 2.16 million tonnes, Port Waratah Coal Services (PWCS) said in its operating report for last month on March 6.Thermal coal comprised 7.98 million tonnes or 89% of the total imports last month, while coking coal shipments accounted for 980,000 tonnes or 11% of the total, said the report.The sharp decrease through Newcastle port last month was mainly due to the impact of Lunar New Year holidays in mid-February – traditionally a slack demand period for domestic market.The decline was also impacted by the Chinese government’s new trace elements policy implemented since January 1.In February last year, the Port Waratah Coal Services terminals at Newcastle port exported 2.5 million tonnes of coal to China, compared with the January exports of 1.85 million tonnes when Lunar New Year occurred in late-January, according to PWCS data.Last month was the lowest volume of coal exports to China since May 2013 when it was 1.34 million tonnes, Platts data showed.The FOB price of Newcastle 5,500kcal/kg NAR thermal coal, a type of product preferred by Chinese buyers, traded at an average price of $53.97/t in February, up $1.1/t from January, Platts data showed.