According to data published by China Customs regarding coal imports for 2024, from January to October this year, China has imported a total of 435.369 million tons (0.435 billion tons) of coal, reflecting a year-on-year increase of 13.5%. The total import value amounts to $42.539 billion, showing a decrease of 1.8% compared to the previous year.
From SOHU
According to data published by China Customs regarding coal imports for 2024, from January to October this year, China has imported a total of 435.369 million tons (0.435 billion tons) of coal, reflecting a year-on-year increase of 13.5%. The total import value amounts to $42.539 billion, showing a decrease of 1.8% compared to the previous year.
Forecasts indicate that China is expected to import over 500 million tons of coal in 2024. In the first ten months of this year, the main supplying countries are ranked as follows: Indonesia (189.84 million tons), Russia (79.669 million tons), Mongolia (67.071 million tons), and Australia (64.849 million tons), with other countries contributing 34.02 million tons. Their respective market shares are 44%, 18%, 15%, 15%, and 8%.
This analysis suggests that China’s coal imports in 2024 will largely rely on the following four countries: Indonesia, Russia, Mongolia, and Australia. Indonesia has consistently been the largest source of coal imports for China in recent years. Its thermal coal is favored due to its lower price and shorter transportation distance. Despite having a lower calorific value compared to Australian or Russian coal, Indonesia's low sulfur content and minimal ash make it a desirable choice for many power plants. It is estimated that in 2024, China will import approximately 230 million tons of coal from Indonesia, accounting for around 45% of total imports. The competitive advantages of Indonesian coal, particularly in terms of price and flexibility, suggest that it will likely retain its position as China's primary source of coal.
Meanwhile, Russia's coal exports have gradually increased in recent years, establishing itself as one of China’s important coal suppliers. In 2024, Russia's coal exports to China are projected to reach 90 million tons, which would account for about 19% of China's coal imports, maintaining its position as the second-largest source. Mongolia, as China's neighbor, benefits from a favorable geographic position and lower transportation costs, with over 95% of its coal exported to China. The quality of Mongolian coal has been recognized in the Chinese market for many years, and as cooperation between the two countries deepens, Mongolia’s share is expected to increase further. Notably, it is also China’s largest source of coking coal.
Australia has significantly increased its coal exports to China over the past two years. Known for its high calorific value, low sulfur content, and excellent combustibility, Australian coal is particularly suitable for China's power and metallurgical industries, providing stable and reliable supplies, especially for thermal coal and coking coal.