“China, the world’s biggest coal importer, has reduced its purchases of Russian coal in 2024, instead increasing imports from other key suppliers, including Australia, in a year of record coal imports, customs data released on Monday showed.”, — write: epravda.com.ua
China, the world’s biggest coal importer, has cut its purchases of Russian coal in 2024, instead increasing imports from other key suppliers, including Australia, in a year of record coal imports. This is reported by the Reuters agency. China’s purchases last year reached an all-time high of 547.2 million tonnes, accounting for a record 41% of global coal trade, according to LSEG research. Imports from top supplier Indonesia rose 8% to 236.99 million tonnes last year, although this was below overall coal import growth of 14.4%.Advertisement: Russia remains China’s second-largest coal supplier but has become the only key producer , whose shipments to China have declined in 2024. China’s imports from Russia fell 7% from 2023 levels to 93.86 million tonnes, due to sanctions, China’s reinstated import duties and export levies imposed by Russia during the year. Instead, Australian exporters became the biggest beneficiaries of record imports. Shipments from Australia rose 59% from a year earlier to 83.24 million tonnes, surpassing the level of 2020, the last full year before China imposed an unofficial ban on Australian coal imports. In 2020, China imported 77.51 million tonnes of Australian coal, and in 2021 and 2022 it virtually stopped these purchases. The restrictions were lifted in January 2023 amid improved relations between Beijing and Canberra, which also revived trade in barley and wine.Advertisement: Mongolia’s coal imports to China rose 19% to 82.82 million tonnes, boosted by improved border infrastructure. However, in terms of the volume of supplies, Mongolia lost to Australia and was in fourth place. We will remind: China’s oil imports from its main supplier, Russia, in 2024 increased by 1% compared to 2023, reaching a record level.