China's Russian coal imports increase slightly after long decline
China’s imports of Russian coal in March rose by 6% year-on-year after falling over the previous year, data from Beijing’s General Administration of Customs showed on April 20.
China had been decreasing coal imports from Russia despite a steady growth in domestic demand, turning instead to Australian and Mongolian suppliers, it was reported in January.
Russia’s coal exports to China were reported to have dropped by almost 7% in 2024 compared to 2023.
The development was another blow to the Russian coal industry, which was already facing multibillion-dollar losses and mass bankruptcies.
But the latest data showed March imports were up 6% year-on-year to 7.33 million metric tons.
Warnings that Russia’s coal industry was beginning to nosedive appeared in the second half of 2024, when AC TEK, a Russian state analytical center under the Energy Ministry, published a dire assessment.
Western sanctions, insufficient transport infrastructure to the east, and Chinese tariffs levied on Russian coal were contributing to the industry’s setback.
Kemerovo Oblast, or Kuzbass, which accounts for 60% of Russia’s hard coal production and 80% of its coking coal, was hit the hardest.
Financial troubles have forced eight coal companies in the region to halt operations, leaving hundreds of miners without pay for months, according to Kemerovo Governor Ilya Seredyuk said at the time.
“Falling prices on world markets, problems with logistics, a shortage of personnel, and a high key rate — along with Western sanctions — have created a serious challenge for the coal industry,” Seredyuk said.
Despite growing economic ties between Moscow and Beijing, Western sanctions have presented an increasingly serious obstacle to Russian-Chinese trade relations.
The Kyiv IndependentKollen Post