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China is going coal crazy: imports jump 56%

Another Shanghai surprise

Chinese customs data out on Friday show imports of coal amounted to 30.5 million tonnes in January, up 56.3% compared to 2012, already a record year.

Last year China imported 234.3 million tonnes of coal, which constituted a huge jump – 28.7% – over the year before.

China is also the number one producer of coal with domestic output pegged at 3.66 billion tonnes.

China now consumes almost as much coal as the rest of the world combined and coal consumption in the country shows no signs of slowing down.

The country’s Coal Importers Association, recently said China’s coal imports may reach 400 million – 500 million tonnes within three years.

Calling all US coal miners: Chinese coal imports could jump to 500m tonnes in 3 years