China imported 12.26 million mt of coking coal in the first three months this year, rising by 8.94 percent year on year, according to the data issued by the Chinese customs authorities. In March alone, the imports of coking coal totaled 3.7622 million mt, down 23.31 percent year on year, while up 25.97 percent month on month.
In the first quarter, coking coal imports from Russia amounted to 3.33 million mt, rising by 27.2 percent year on year. With the invasion of Ukraine resulting in sanctions on Russia and the impossibility of paying in US dollars, Russia focused on exports to China, at discounted prices and with payments in the Chinese currency. Moreover, more Russian coal will be directed to the Chinese market starting from May as payment will be easier in the future.
In the first three months this year, China’s coking coal imports from Mongolia amounted to 2.1 million mt, down 65 percent year on year due to the strict control measures against the Covid-19 pandemic, and the overall imports volume in 2022 may be lower than the volume recorded in 2021 due to the impact of Covid restriction measures.
Meanwhile, imports of coking coal from the US, Australia and Canada totaled 2.587 million mt, 2.0 million mt and 1.59 million mt in the first quarter, respectively.