Reuters quoted data from China Customs Statistics showed that China imports of coal and liquefied natural gas in August slipped from record highs posted in the preceding month as buyers slowed shipments towards the end of the peak summer demand season.
CCS data showed China imported 16.59 million tonnes of coal in August down by 5.4% from the previous month. Exports for the month stood at 1.25 million tonnes. Imports of liquefied natural gas stood at 1.05 million tonnes down slightly from the record 1.18 million tonnes recorded in July. Imports of the super-cooled gas reached 7.41 million tonnes in the first eight months of 2011 up by 27.9%YoY.
According to Reuters calculations based on CCS data the price of LNG paid averaged at about USD 9.50 per mmBtu in August, the highest this year. The data also showed China was a net diesel importer in August for the third month this year with imports jumping over 56% from July to 250,000 tonnes, but exports at 210,000 tonnes.
PetroChina China second largest state refiner, made a rare purchase of two diesel cargoes for September to replenish thinning domestic stocks after heavy regular maintenance and refinery accidents cut production.