China raises coal and gas imports to counter energy crisis

China raises coal and gas imports to counter energy crisis

China’s energy crunch pulled in more coal and gas imports in September, as buyers scrambled to ensure adequate supplies to counter a deepening power shortage ahead of peak winter demand.

Coal purchases rose 17% on the month to 32.9 million tons, the highest total this year, according to the customs administration on Wednesday, although the tally for the first nine months still lags last year’s pace.

Coal imports have been constrained as top supplier Indonesia prioritises its domestic needs. Covid-restrictions in Mongolia have also affected overland shipments, and China continues to push its neighbour for more supply to ease a shortage that sent futures rocketing to yet another record on Wednesday.