China Coal Imports Drop 30 Percent for 2016

Reuters reported that Chinese coal imports fell 30 percent last year to 204.1 million tonnes on the back of a slowdown in domestic demand.
As quoted in the publication:

Imports could fall further this year, analysts said, with overall demand still declining. Coal also faces the twin headwinds of state efforts to cut pollution and a weaker Chinese currency that will further erode the cost advantages once enjoyed by foreign miners.
“Going into 2016, the overall theme will still be there, with demand still weak as China steers away from high energy-intensive industrial growth and the replacement (of coal) by other energy sources continues,” said Helen Lau, analyst with Argonaut Securities in Hong Kong.
She expected imports to fall another 10 percent in 2016,

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