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UPDATE 2-China's June gasoline exports to N.Korea fall y/y, but up from May

    * Gasoline exports drop 30 pct y/y, but up nearly 60 pct m/m
    * Total fuel exports up more than 60 pct in value from May
    * China buys no coal from North Korea for 4th straight month

 (Adds analyst comment in paragraphs 7 and 8, bullets)
    BEIJING, July 24 (Reuters) - China's gasoline exports to
North Korea fell in June from a year ago, but still jumped
nearly 60 percent from the previous month, official data showed
on Monday.
    Gasoline accounts for the bulk of China's fuel exports to
the isolated state. The refined oil shipments to North Korea are
being closely watched amid pressure on Pyongyang to rein in its
nuclear and missile programmes.
    Gasoline exports, which are often volatile, fell 30 percent
from June last year to 8,262 tonnes, but rose 58 percent from
May, according to the General Administration of Customs. 
    China's total fuel exports in June were worth $5.5 million,
up from $3.4 million in May, but down from $8.6 million in
April, according to Reuters calculations based on customs data.
    The rise in gasoline exports in June over the previous month
came after sources told Reuters that state-owned China National
Petroleum Corp (CNPC) had suspended fuel sales to North Korea.

    In the weeks since the report on June 28, gasoline and
diesel prices have surged in North Korea.
    "Despite a rise in fuel exports to North Korea, the absolute
amount is still very small," said Li Yan, oil analyst at
Longzhong Information Group. 
    "CNPC's cut in oil (product) sales was probably to warn
North Korea for political reasons. For future fuel trade, it may
depend on the relationship between the two countries," he said.
    Shipments of diesel to North Korea rose to 367 tonnes in
June from just 10 tonnes in May, the data showed. 
    China's imports of iron ore from North Korea in June fell
9.9 percent to 224,059 tonnes from the same period last year,
and were down 4 percent from May. 
    China bought no coal for a fourth month after Beijing halted
coal shipments in February. 

The table below gives a breakdown of imports and exports of
major commodities between the two countries:
        
              June     m-on-m    yr-on-yr  H1          % change
              2017     % change  % change  2017        
 Imports                                               
 Coal         -        -         -         2,678,131   -74.5
 Iron ore     224,059  -4.05     -9.88     1,336,136   +60.31
                                                       
 Exports                                               
 Ethanol      4,126    +24.65    517.72    15,597      +287.67
 Gasoline     8,262    +58.3     -29.92    45,769      -2.39
 Diesel       367      +3,570    -         9,684       -67.84
 Jet fuel     140      -47.17    216.41    951         +34.23
 Other fuel   298      +98.67    -99.01    18,654      -45.6
 oil                                                   
 Fuel No.     844      +172.26   549.12    3,678       -5.05
 5-7                                                   
 LPG          107      +64.62    89.44     474         +60.23
 In tonnes except for ethanol in cubic metres

 (Reporting by Muyu Xu and Josephine Mason; Editing by Richard
Pullin and Tom Hogue)
  
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