Chinese coal importers held back bids for new import cargoes yesterday after the general administration of customs (GAC) warned about high import volumes. The GAC circulated a warning notice to local customs au- thorities, asking them to “pay close attention to import levels to better supervise coal imports and limit the imports of low- quality coal”, market participants said. China’s top economic planning agency the NDRC has also asked the GAC to reinforce the management of coal imports, as “the supervision of coal imports is an important part of the national strategy of coal capacity cuts”, the GAC said.
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