Bloomberg reported that Chinese coal imports have skyrocketed by 56 percent in January, year-over-year.
As quoted in the market report:
China has boosted coal imports as the government shuts domestic mines to improve safety. Accidents killed 1,973 people in 2011 and 2,433 in 2010, according to the State Administration of Work Safety. That compares with 48 deaths in 2010 in the U.S., the world’s second-biggest coal producer. Regulators will close about 5,000 mines this year, the official Xinhua News Agency reported yesterday, citing the safety bureau.