GACC: China's Nov thermal coal imports surge nearly 30% YoY

China's thermal coal imports in November jumped 29.4% on year to 41.28 million tonnes, data from the General Administration of Customs of China (GACC) showed, making for the highest monthly level since at least January 2009, Mysteel Global noted.

The sharp rise was driven by a buying spree among utilities preparing for peak winter demand in December and January, industry experts said. Thermal power, predominantly coal-fired, accounted for 69% of China's total electricity generation in November, up from 65.3% in October. The share typically climbs above 70% in December,