BEIJING : China's coal imports hit their highest level of 2021 in November, as the world's biggest consumer of the dirty fuel scrambled to feed its power system as the winter heating season kicked in.
Chinese coal traders, however, were forced to sell cargoes at losses or tried to delay imports after market intervention triggered a 50per cent price drop that saddled them with unprofitable supplies. November's arrivals were also far higher than the 11.67 million tonnes brought in a year earlier during a broad curb on coal imports.
China's coal output has soared to record daily levels after Beijing ordered miners to boost production immediately to cool prices and plug a power shortage.
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