Energy

China's net coal imports likely to hit 230m tons in 2011

(Agencies)
Updated: 2010-12-14 14:31

China's net coal imports may reach?233 million tons next year, up from 143 million in 2010, said Bloomberg News Tuesday, citing a report released by Citigroup Inc on Nov 29.

The country added about 51 gigawatts of coal-fired capacity last year, more than half the total capacity of the United Kingdom, according to data from Daiwa Capital Markets and the US Energy Department, it reported.

"All the indications are for increased demand in 2011," said Andrew Harrington, an analyst at Patersons Securities Ltd.

Related readings:  China gears up economic transformation of coal-rich Shanxi province  Coal and cars combine to increase pollution in North  A coal-reliant nation faces tough times  Power giants take hit from high cost of coal

China will need two billion tons of coal over the next 10 years to fuel the country's industrial development, the China Securities Journal reported, citing Dai Yande, deputy head of China's Energy Research Institute.

The thermal-coal market will remain tight as strong demand from emerging markets, particularly China and India, drives record levels of imports, said Daniel Brebner and Xiao Fu, analysts at London-based Deutsche Bank AG, according to the report.