China coal imports rise in November despite push against pollution

Paola Ditto
Dicembre 8, 2017

China's exports and imports increased at surprisingly strong rates in November, with expansion in overseas shipments hitting their highest point in eight months, indicating solid foreign demand, official figures showed Friday.

That is up 42.3 percent from 330,000 tonnes in October and up 23.7 percent from 380,000 tonnes in November 2016.

Imports jumped 17.7 percent year-on-year to $177.1 billion, leaving a monthly trade surplus of $40.2 billion.

Chinese copper smelters such as Tongling Nonferrous Metals Group cut back production last month to comply with environmental protection measures.

Iron ore imports also lifted, jumping to 94.54 million tonnes from 79.49 million tonnes in October.

Export growth also beat, lifting by 12.3% over the same period in United States dollar terms, a sharp improvement on the 6.9% level of October and forecasts for an increase of 5%.

"Major exchange stock levels are still low and demand keeps growing".

Reflecting the impact of currency movements over the year, imports grew by 15.6% in local currency terms, above the 12.5% level expected.

470,000 tonnes of copper were imported, up from 333,000 tonnes in October.

China's aluminium exports had been in freefall since hitting 460,000 tonnes in May and June as punitives duties imposed by Washington on aluminium foil made shipments to the key US market unviable.

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