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China’s July Russian coal imports hit 5-year excessive as West shuns Moscow

China introduced in 7.42 million metric tons of coal from Russia final month, information from the Common Administration of Customs confirmed on Saturday. That was the very best month-to-month determine since comparable statistics started in 2017, up from 6.12 million metric tons in June and 6.49 million metric tons in July 2021.

Western nations have been avoiding cargoes from Russia forward of a European Union ban on Russian coal that got here into drive on August 11, geared toward decreasing the Kremlin’s power income over its February invasion.

The ban has pressured Russia to focus on consumers akin to China and India and promote at a steep low cost.

Russian thermal coal with a heating worth of 5,500 kilocalories (kcal) traded round $150 per metric ton on a cost-and-freight foundation in late July, whereas coal of the identical high quality at Australia’s Newcastle port was assessed at greater than $210 per metric ton on a free-on-board (FOB) foundation.

Some Chinese language merchants anticipate extra Russian coal to move into China within the fourth quarter when utilities in northern China construct shares for the winter heating season.

July shipments of Indonesian coal, principally low cost, low-quality thermal coal with a heating worth under 3,800 kcal, have been 11.7 million metric tons. That was up 22% from June however down 40% from a yr earlier. China has lowered its general coal imports in latest months amid surging home output.

Energy vegetation in southern China have elevated tenders to purchase Indonesian coal in August as it’s cheaper than home coal, whereas demand for coal-fired energy technology has been boosted by a document warmth wave.

Indonesian thermal coal with a heating worth at 3,800 kcal modified hand at about $78 per metric ton on a FOB foundation final week, which might nonetheless under about 690 yuan (about $100) for native coal when contemplating delivery prices.

China’s customs information confirmed zero coal cargo from Australia in July.

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