China's coal stocks surged 37-69% year on year in August at mines, major coal ports and key power plants, latest China National Coal Association data showed Friday.
The country's coal miners held 87.85 million mt of stocks at the end of August, up 6.8% month on month and up 69% year on year, the CNCA data showed.
Its major coal ports held 43.18 million mt of coal, down 7.9% month on month and up 54.6% year on year.
Major power plants held 84.64 million mt of coal, down 1.2% month on month and up 37.2% year on year. The stocks were adequate for 24 days of burn at the plants, up nine days year on year.
China's railroads transported 169 million mt of coal in August, down 11.6% year on year, CNCA said. Over January-August, railings totaled 1.508 billion mt, up 0.7% year on year.
The country's major coal ports handled 50.49 million mt of coal in August, down 10.4% year on year. Over January-August, they handled 410 million mt, down 6.4% year on year.
CNCA estimated China's national coal consumption at 2.71 billion mt over the first eight months of 2012, up 1.4% year on year. This growth rate is down 8.7 percentage points year on year.
China mined 307 million mt of crude coal in August, down 2.5% year on year. It mined 2.57 billion mt over January-August, up 4.4% year on year.
These figures are slightly below China Coal Trade and Development Association figures, which put China's January-August coal output at 2.625 billion mt, up 5.5% year on year.
Over January-August, China was a net coal importer by 178.5 million mt with imports at 185.4 million mt, up 46.3% year on year, and exports at 6.92 million mt, down 36.6% year on year, Platts reported earlier.
