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Indonesia's benchmark coal price (HBA) of 6,322 kcal in December 2016 reached US$101.69 per tonne, a surge of over 90 percent compared to the end of 2015. Increased coal demand in China fueled this price surge throughout 2016.
As reported by Bloomberg, China's coal imports increased in November 2016, reaching their highest level since December 2014. In anticipation of winter in China, importers stockpiled coal. November shipments increased by 25 percent to 26.97 million metric tons compared to the previous month. As a result, coal shipments to China from January to November 2016 increased by 22.7 percent to 229 million tons.
The easing policies implemented by the Xi Jinping administration boosted supply, enabling Chinese industries to overcome persistent crises.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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