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Trade Trends News
13-01-2025
China's coal imports rose 14.4% in 2024 to a record high as falling international coal prices spurred buyers to substitute imports for domestic supplies, according to customs data.
Coal imports totaled 542.7 million metric tons in 2024, up from 474.42 million tons in 2023, according to China's General Administration of Customs.
Toby Hassall, chief coal analyst at the London Stock Exchange, said, “Lower seaborne coal prices are driving China's 2024 coal imports, which is encouraging import arbitrage relative to China's more diverse domestic coal supply.” He added that domestic coal production has increased by around 1%, a slowdown from previous years.
Imports rose 11% from a year earlier to 52.35 million tons in December, down from a record high of 54.98 million tons set in November, customs data showed.
The China Coal Transportation and Marketing Association, an industry group, expects imports to fall to 525 million tons by 2025, analysts said at an online seminar last week.
Hassall estimates that China's coal consumption will grow about 1% by 2024, in line with growth in coal-fired power generation, although consumption in the cement and steel sectors has weakened, hit by China's real estate crisis.
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