China’s coal imports up 96.1 percent in Q1

Friday, 14 April 2023 11:49:02 (GMT+3)   |   Shanghai
       

In the January-March period of the current year, China’s coal imports amounted to 101.8 million mt, rising by 96.1 percent year on year, as announced by the Chinese customs authorities.

In March alone, China’s coal imports totaled 41.165 million mt, up 41.1 percent month on month, while increasing by 24.745 million mt compared to the same period of last year, hitting the highest level since January 2020.   

Strong demand in the local market contributed to the sharp rises in coal imports in March, while production restrictions in some regions resulted in the tight supply of coal. At the same time, Indonesia, Mongolia and Russia increased coal exports to China amid its easing of Covid-19 measures. Meanwhile, Australian coal has begun to re-enter the Chinese market as a result of the improvement in Sino-Australian relations. Moreover, energy prices in the global market have decreased due to lower demand for coal in Europe and the US.    

However, to achieve carbon neutrality, the Chinese government will accelerate the development and utilization of clean energy. It is thought that China’s coal imports may decline in the future.


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