China’s sliding coal imports weakens one of the last bullish supports: Russell

By Clyde Russell | Reuters

Among China’s generally strong imports of major commodities in August there was one standout area of weakness – the large drop in coal.

China’s coal imports fell to an eight-month low of 20.66 million tonnes in August, down 20.8% from July’s 26.1 million and a massive 33% below the level recorded in August last year, according to customs data.

The soft August outcome meant the growth in imports in the first eight months of the year slipped to just 0.2% from the same period in 2019, down from 6.8% in the first seven months in the year…Full Story