Chinese Coal Imports Sink by 30% in 2015

China, the world’s largest coal importer, has registered a sharp fall in yearly coal import during 2015.

China’s coal import fell by 30% to 204 MnT in 2015 compared to 291.4 MnT in 2014, according to latest custom report of China. The country registered a downfall of 35% to 17.64 MnT in month of Dec’15 compared to Dec’14. However, the nation recorded a rise of 1.45 MnT (9%) in Dec’15 compared to Nov’15.

In first 11 months of 2015, the country’s non-coking coal import reached at 142 MnT, reporting steep declination compared to the same period of 2014.

Year 2015 not tuned good for the country as since the beginning of the year, China has been highly hit by the economic slowdown surrounded with dwindling coal demand and prices domestically.

As per a market analyst, “Any hopes of rise in Chinese coal import and recovery in global coal market in 2016 are not sounds to be realistic. In addition, it is expected that import could fall more in 2016 as Chinese coal demand is still weak on the ground of devaluated RMB and the country’s over concerned pollution control.”

Country-wise non-coking coal import in China during 2015 (Jan’15-Nov’15)

China imported about 96% of non-coking coal from top five major supplier countries viz. Australia (65.1 MnT), Indonesia (25.2 MnT), North Korea (17.8 MnT), Russia (14.6 MnT) and Mongolia (12.42 MnT).

India, the 2nd largest coal importing country, is still seems to be a last flame of hope for the depressed seaborne coal trade.

Contrasting to China, India’s coal import has risen by 3% to 224.7 MnT in 2015 compared to last year. It is expected that demand for imported coal will fall this year owing to increase in domestic production by CIL.