September 08, 2008

China to be net coal importer for most of 2008 – NDRC

It is reported that China, the world's biggest energy consumer after the US, will remain a net coal importer for most of 2008 on energy demand and constraints on exports.

The Beijing based National Development & Reform Commission said that outward shipments of the fuel have very limited room to rebound as the appreciation of the nation's currency increases export costs and as long-term contract volumes decline.

NDRC said that “Coal imports will rise slightly in 2008. Chinese coal fired electricity generation may rise by 12% in 2008 and thermal power units will account for 80% of additional capacity. China coal demand growth may slow to between 6% and 8% as the government's efforts to control economic growth take effect and curb consumption of the fuel by the power, steel and property construction sectors.”