Chinese companies to begin importing coal from Australia

 

China is the leading coal importer in the world. According to the China customs data reports, there was around 96% growth in the imports of coal by China. China's total seaborne coal imports totaled to be 141 million tonnes. In which, the highest number of coal imports were recorded in March month.

As per China import export data, around 41 million tonnes imports of coals were done by China during March 2023. China's coal imports were 45% more as compared to the fiscal year 2023. Whereas during January-February 2023, it was 30 million metric tonnes on average. I

In March 2023, there was around 151% increase in the imports of coal by China. The increase in coal imports by China is basically to support steel manufacturing and run power generation activities. Whereas China's total coal exports were recorded to be 4 million metric tonnes in 2022 as per China export data. Around 52% rise in China's coal exports have been recorded.

China is currently expanding its trade with Russia and China. Russia is facing stiff trade restrictions by the UN. Due to which, it is offering cheap oil, natural gas, coal and metal to Asian nations. China is making the most of this opportunity by importing more coal from Russia. Russia is the largest supplier of coal to the European Union but due to the Ukraine invasion, Russian exports have declined significantly.

Earlier Australia was the major coal exporter to China. But China has limited its coal imports from Australia. Due to which Russian coal export shipments to China had seen rapid growth. According to the China import data reports around 95% rise in the imports of Russian coal by China. 

For the financial year 2022, China has imported over 25 million metric tonnes of coal. As per Russia export data, it was 128 million metric tonnes in 2021 and 14 million metric tonnes in 2020. The latest China trade data reflects that already 12 million metric tonnes of Russian coal has been imported by China in 2023. These figures might further increase by the year end. Experts forecast that Russia could become the biggest seaborne coal exporter to China by the end of 2023. The exports could cross 25 million metric tonnes.

Mongolia has emerged as the new market for China's coal imports in FY 2023. The rich reserves of hard coking coal in Mongolia has attracted Chinese buyers. As per Global import export data reports, around 4.8 million metric tonnes of coal was exported from Mongolia to China. It is forecasted that Mongolia coal exports could cross 42 million metric tonnes by the end of 2023 that is 60% more as compared to the last year imports.

Now, after 2020, the restrictions are eased on Australian coal imports by China. Chinese companies have begun importing coal from Australia. Earlier, Australia was the largest coal supplier to China with over 35 million metric tonnes worth coal exports in 2020. Australia covered over 48% share of China's total coal imports.

As our natural resources are getting exhausted. Companies are looking for the imports of Renewable and Non-Renewable sources of energy. The major challenges that most companies face is getting their reach to the verified buyers & suppliers. 

Exim Trade Data, a leading market research company, has launched a global market intelligence platform. It has over 200+ countries import export data reports through which you can excel your sales from Australia to all over the world. Here, you can discover product wise importers, exporters and cut your cost. This would help you gain competitive advantage and maximize your ROI.