China’s booming coal imports include more high-grade cargoes from Australia and Russia, as users offset the worsening quality of coal mined at home with fuel from abroad.
Australia’s exports of thermal coal for power plants and coking coal for steelmaking rose to 6.69 million tons last month, the highest since July 2020, according to the latest data from Chinese customs. The endorsement represents a sharp turnaround in trade relations: Australian shipments were banned by Beijing from late 2020 to the start of this year after political ties soured.
China’s coal imports, including low-grade lignite, climbed to an all-time high of 44 million tons in August, while domestic production of 382 million tons was also a record for the time of year. Imports over the first eight months have nearly doubled to 306 million tons, more than the country usually takes in a whole year.
“Russian and Australian coal shipments are taking market share from China’s biggest exporter Indonesia this year,” said Amy Xu, an analyst at Fenwei Energy Information Service Co. Power plants, as well as downstream sectors like chemicals, construction and metals smelting, are looking for higher grades to meet their needs, she said.
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