The coal industry proceeded over the growing trend in July and the output reached 260 million tons with an increase of 14.8% compared with that of last year.
However, it worth mentioning that the exports of Chinese coal are still not so good in July, with a drop of 60% year on year. According to the statistics from China Customs, the export volume of coal from January to July was 1.292 million tons, down by 57.3% year on year, raised by 3% compared with the decrease of June.
Every year, industries of power, steel, cement and chemical use up 90% of the total coal consumption of China. As the macro economy picks up, the above four segments are increasingly booming and the demand for coal rises obviously.
The average daily consumption of direct power supply was 2,060,000 tons in July, a link relative increase of 10.8% from the 1,860,000 ton of June, which shows that the short-term demand for coal is increasing.
The national 4 trillion economic stimulus plans in the first half year had take effect in the steel industry, and the demand for steel recovered with the pull of infrastructure investment plus the busy consumption season of the 2nd quarter. Recovery of the demand for steel drives the increase of coal consumption.
The cement output from January to May reached 570 million tons, an increase of 13.3% with a growth rate up by 4.3%. It is expected that from August to October, factors such as productivity policies, price advance in busy seasons and the newly-started real estate and so on will promote the demand and output of cements, which further makes the industry’s demand for coal vigorous.
In the first five months, the production volume of ammonia reduced by 1.3% compared with that of last year. Although the monthly output growth has rebounded from the bottom, at present downstream demand is still not so thriving.
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