Coal imports hit 217m tons by Oct

China had a net import of 217 million tons of coal in the first 10 months of this year, up 39.5 percent from a year ago, authorities said Tuesday, though the market remained sluggish with rising stockpiles and falling prices.

The high net import came amid rising stockpiles and growth slowdown in coal consumption, according to a press release issued Tuesday by the National Development and Reform Commission (NDRC).

"A total of 1.87 billion tons of coal were transported by railway from January to October, down 0.6 percent year-on-year," while coal consumption, especially by power generators, slowed in the same period, the NDRC said.

By the end of October, coal inventory in major power plants reached 93.71 million tons, equal to 29 days' usage, eight more days than the same time last year, and stockpiles at major ports were 35.62 million tons, up 37 percent year-on-year, according to the NDRC.

Thermal coal with an energy value of 5,500 kilocalories per kilogram at benchmark Hebei Qinhuangdao port is currently priced at 635 to 645 yuan ($100-$102) per ton, 26 percent lower than earlier this year and 34 percent lower than a year ago, according to the NDRC.

Import coal is priced lower than domestic coal, which also bears the transportation cost from China's northern production bases to southern consumers, Liu Enqiao, an energy researcher at Beijing-based Anbound Consulting, told the Global Times Tuesday.

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